Oil and gas company Cairn Energy PLC (CNE.LN) said Friday that Indian officials have instructed it to hold its shares in Cairn India Ltd. (532792.BY) amid questions about income tax assessed for the year ending March 31, 2007.
The company said it is cooperating with Indian authorities but didn't provide further details about the tax matter.
Cairn Energy shares closed in London Thursday at 262 pence, valuing the company at 1.56 billion pounds ($2.59 billion). Read more..
Source: Latest News in Hindi
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