This content is from: India

Indian Income Tax Department’s Rs 20,000 crore demand disrupts Cairn merger

The Indian Income Tax Department (ITD) has decided to pursue a Rs 20,495 crore ($3.2 billion) tax case against Cairn India, jeopardising the company’s proposed reverse merger with parent company Vedanta, the Central Board of Direct Taxes (CBDT) has confirmed.

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