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Cairn v. India – Does Cairn Have Remedies in Light of India s Attempts to Remove Funds from Overseas Indian Bank Accounts Monday, May 24, 2021
If a disputing party in an arbitration believes that receiving an arbitration award is a battle half won, wait until enforcement begins. The Cairn v. India
1 dispute is a classic example.
BACKGROUND
On December 21, 2020, the international arbitral tribunal (Tribunal) constituted in the case of Cairn Energy Plc and Cairn UK Holdings Limited (collectively ‘Cairn’) v. The Republic of India held that India had failed to uphold its obligations under the 1994 Bilateral Investment Treaty between Republic of India and United Kingdom (India - UK BIT) and under international law, by imposing tax liability of ₹10,247 crore and adopting consequent measures taken to enforce the liability. The Tribunal ordered India to pay to Cairn INR 9,000 crore in damages for the ‘total harm’ suffered by Cairn as a result of Ind
Investment Arbitration and India: 2020 Year in Review Thursday, February 25, 2021
For the Indian foreign direct investment landscape, 2020 was a mixed bag of equity inflows, policy changes, arbitration awards and innovative dispute resolution strategies. In September 2020, FDI equity inflows in India crossed the USD 500 billion milestone, computed over a period of 20 years starting from April 2000.
1 While global FDI witnessed a steep decline of 42%, India noted a 13% increase in FDI inflows.
2 India’s tightened scrutiny of FDI from her neighbours and FDI in e-commerce invited intense discussion.
However, the culmination of key long-standing arbitration proceedings initiated by foreign investors against India under international investment treaties invited global attention, especially in the final quarter of 2020. These disputes were initiated by foreign investors to challenge measures adopted by the Indian government and State entities that adversely impacted foreig
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.
Vodafone tax case: India files application in Singapore High Court against arbitration panel verdict freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.