Supreme Court of India refused to interfere with an award issued by a sole arbitrator in an arbitration seated in the USA, holding that a foreign award could be enforced against non-signatories to the arbitration agreement under the Arbitration and Conciliation Act.
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MUMBAI/NEW YORK, May 15 (Reuters) - Cairn Energy has sued India’s flagship carrier Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India, according to a U.S. District Court filing reviewed by Reuters.
The move ratchets up pressure on India’s government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration tribunal in December. The body ruled India breached an investment treaty with Britain and said New Delhi was liable to pay.
Cairn filed the lawsuit on Friday in the U.S. District Court for the Southern District of New York, seeking to make Air India liable for the judgement that was awarded to Cairn. The lawsuit argued that the carrier as a state-owned company, is “legally indistinct from the state itself.”
Vodafone Tax Case: India Moves Singapore Court Against Arbitration Panel Verdict
An international arbitration court had in September last year rejected tax authorities demand for Rs 22,100 crore in back taxes and penalties relating to British telecom giant Vodafone s 2007 acquisition of an Indian operator.
Photo: PTI
Business10/Feb/2021
New Delhi: India has challenged in the Singapore high court an international arbitration tribunal’s verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, and the order passed in Cairn Group’s case is under consideration of the government, Parliament was informed on Monday.
An international arbitration court had in September last year rejected tax authorities’ demand for Rs 22,100 crore in back taxes and penalties relating to British telecom giant Vodafone’s 2007 acquisition of an Indian operator.