The Indian government has lost the arbitration case before the energy giant Cairn and has been asked to pay damages worth 8 billion rupees to the British oil company. The verdict, which came late Tuesday night, is another setback for India, three months after a loss to Vodafone over retrospective …
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Cairn Energy rose as much as 45% in early London trading, its biggest intraday gain in nearly 17 years. India was ordered to return more than $ 1.2 billion to Cairn Energy Plc after Prime Minister Narendra Modi’s administration lost arbitration proceedings in a tax dispute, its second tax loss. …
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In a major setback, the Indian government lost arbitration to energy giant Cairn under the retrospective tax amendment to the law in a verdict that came Tuesday night. India has been asked to pay damages of Rs 8 billion to the British oil company. The verdict comes three months after …
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Last month, an international arbitration court ruled that the Indian government seeking ₹Rs 22.1 billion in taxes from telecom giant Vodafone using retrospective legislation “violated the guarantee of fair and equitable treatment” guaranteed by the bilateral investment protection pact between India and the Netherlands. Finance Ministry sources said the government …
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NEW DELHI : British oil explorer Cairn Energy Plc said Tuesday that it is seeking $ 1.4 billion from the Indian government (roughly ₹10,300 crore) in losses arising from the expropriation of your investments to enforce a retroactive tax lawsuit. In its semi-annual income statement, the company said it expects …
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Vedanta, led by Anil Agarwal, got relief when the Supreme Court on Wednesday rejected the government’s statement challenging an arbitration award that allowed the company to recover $ 499 million instead of $ 198 million that (the government) had limited to develop. the Ravva oil and gas fields. The dispute …
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