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Insurers in India unwilling to cover tax risks in M&A deals

Modi fails to allay investor concerns over a law that allows authorities to make retrospective tax claims

Mumbai

PRIME Minister Narendra Modi needs to offer more than just his best intentions to clean up India's whimsical tax regime to help convince insurers.

Companies from Allianz SE to American International Group Inc are avoiding offering tax-liability coverage in India's cross-

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