COVID-19 has made business integrity standards slip for many organisations in the past 18 months, with India Inc reporting the second-highest number of cases of fraud and unethical conduct, often at senior management levels.

Britain's Cairn Energy in an operational and trading update on Tuesday said, "The company has concluded all necessary steps under the rules of the India Taxation (Amendment) Act 2021 required for payment by the Government of India of a tax refund of approximately Rs 7,900 crore." The government had initially refused to honour the December 2020 arbitration award but in August 2021 brought a law to scrap all retrospective tax demands and refund money collected, after it faced prospects of assets being seized to recover the refund due.

The Supreme Court has asked Delhi Metro Rail Corporation (DMRC) and the Reliance Infrastructure's subsidiary, Delhi Airport Metro Express Pvt Ltd (DAMEPL) to appear before the Delhi high court on January 31 and request the high court to dispose of the execution application without any further delay. The apex court on September 9, 2021 had upheld the 2017 arbitration award of around Rs 4,600 crore in favour of DAMEPL, enforceable against the DMRC.

Moving an urgent petition on Tuesday, Kishore Biyani-led Future Retail Ltd (FRL) has requested the Supreme Court to issue a "direction restraining Respondent Nos.2-28 (lenders) from declaring the Petitioner No 1 (FRL) as a Non-Performing Asset." FRL had, last year, entered into an OTR scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021, for that.