With the capacity of sizable scale available at bargain prices, the sector will see a lot of Mergers and Acquisition (M&A) activities as bigger players with deep pockets eventually closing in on financially weak but potentially viable smaller firms.
Tag: Vedanta Resources Plc
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IT Dept slaps Rs.20,495 cr tax demand on Cairn India
Cairn India Ltd, the petroleum arm of London-headquartered Vedanta Resources Plc, has received a tax notice of Rs.20,495 crore from the Income Tax department for failing to deduct withholding tax on alleged capital gains by its erstwhile promoter, Cairn UK Holdings Ltd (CUHL), a subsidiary of Edinburgh-based Cairn Energy Plc.