Cairn ready to settle India dispute, take $1 billion refund

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Cairn Energy Plc has said it is looking to settle its decade-long tax dispute with the Indian government following the recent amendments to the retrospective tax law. Top Crain executives have been talking to the government for the last few weeks. Cairn may be the first among the 17 cases to be resolved and requires the government to refund tax that had been collected from the British company.