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International Arbitration Tribunal Directs India to Pay Damages to Cairn in Tax Dispute - (24 Dec 2020)

ARBITRATION

International Arbitration Tribunal has asked India to pay Rs 8,000 Crores as damages in a tax dispute to the UK oil major Cairn Energy Plc. to reverse the dividend and tax refund it ceased and shares it sold to recover part of the tax demand. The Tribunal held that India's tax demand from Cairn is not valid and amounts to a breach of fair treatment under the bilateral investment protection pact.

Tags : INTERNATIONAL ARBITRATION TRIBUNAL   CAIRN ENERGY PLC  

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