Britain's Cairn Energy said on Tuesday it plans to return up to US$700 million to shareholders via a special dividend and a share buyback this year, provided its lengthy dispute with India over certain tax claims is resolved in the near term.
The news comes a month after India proposed scrapping the controversial 2012 law and said it would refund disputed amounts to companies. Cairn was awarded damages of over US$1.2 billion last year by a Dutch court, which was challenged by New Delhi.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: