Govt to file appeal against arbitral award in Cairn retro-tax case
The arbitration court unanimously ruled that India breached its obligations to Cairn under the UK-India Bilateral Investment Treaty
Dipak Mondal | February 19, 2021 | Updated 10:17 IST
India to appeal agasint Cairn arbitral award
The government will file an appeal against Cairn arbitration award soon and will contest its sovereign rights to tax, sources in the finance ministry said. The ministry sources said that the government will also strongly contest other suits filed by Cairn Energy at various other international courts.
An international arbitral tribunal had in December 2020 ruled against India s decision to retrospectively tax the capital gains made when Cairn UK Holdings Ltd sold shares in Cairn India Holdings Ltd, a Jersey company, to Cairn India Ltd, an Indian company.
Govt to file appeal against arbitral award in Cairn retro-tax case
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Analyzing Illegality Defense Trend In Investor-State Arbitration
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Will govt appeal against Cairn order? Response to Vodafone tangle holds clue
Supreme Court lawyer Arvind Datar, who has represented Cairn in this case, says that the government has the right to appeal but he does not know whether they will appeal or not
Dipak Mondal | December 27, 2020 | Updated 12:53 IST
In yet another setback to the government, an international arbitral tribunal has ruled unanimously that India has breached its obligations to Cairn under the UK-India Bilateral Investment Treaty and has awarded to Cairn damages of $1.2 billion plus interest and costs. It has now become payable. This is the second such defeat for the government after a similar order was passed by an international tribunal against the retrospective taxation on Vodafone in September this year.
Govt will study arbitration case award, says FinMin after losing tax dispute against Cairn
The Government will be studying the award and all its aspects carefully in consultation with its counsels, says finance ministry, adding that it will consider all options and take a decision on further course of action, including legal remedies before appropriate fora
BusinessToday.In | December 23, 2020 | Updated 15:30 IST
The international arbitration tribunal in its verdict asked India to pay Rs 8,000 crore as damages to Cairn
The government has said it will study the arbitration case award invoked by Cairn Energy Plc and Cairn UK Holdings Ltd against the government of India. It said all options will be considered before taking a decision on the further course of action, including legal remedies.