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India's lower house has passed a bill to scrap a tax rule that triggered billions of dollars of arbitration battles with global companies including Vodafone Group Plc and Cairn Energy Plc, spooked potential overseas investors and dented the reputation of Asia’s third-largest economy. India's Revenue Secretary Tarun Bajaj denies speculation that the decision was a form of settlement. He then adds that the government is in talks with the companies to settle the dispute. (Source: Bloomberg)
Revenue Secretary Tarun Bajaj: India In Talks With Cairn, Vodafone To Settle Tax Row