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India’s offer to Cairn in $1.4-bn arbitration battle: ‘Pay half the dues and move on’ FE Bureau © Provided by The Financial Express In its December 2020 ruling, the Permanent Court of Arbitration at The Hague invalidated India’s $2.74-billion 2015 tax claim on Cairn Energy. Discussions between finance ministry officials and Cairn Energy CEO Simon Thomson-and his team-continued for the second day on Friday, but it appears the government wants Cairn to settle the dispute using the Vivad se Vishwas scheme; under the scheme, the company will have to pay around half the ...

Rational Expectations: Risking seizure of assets is a bad idea Sunil Jain © Provided by The Financial Express In which case, the only hope India has of getting the ruling reversed in the review is if it can prove mala fide in the award, and that is not going to be easy. It is not clear what India's strategy is going to be when the UK-based Cairn Energy's CEO Simon Thomson comes calling on finance minister Nirmala Sitharaman later this week, but if it is the same as the one adopted in the Vodafone case-that is, to ask for a review of the award-it is a really bad idea. Apart ...

The National Company Law Appellate Tribunal(NCLAT), Chennai Bench, has refused to entertain an appeal filed by Devas Mauritius Employees Private Ltd - a shareholder of Devas Multimedia Private Ltd -...

NCLT admits Antrix Corporation's winding up plea for Devas Multimedia, appoints liquidator SECTIONS Last Updated: Jan 24, 2021, 02:58 PM IST Share Synopsis The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it. The NCLT has posted the matter on February 8 for further hearing into the matter. New Delhi: The National Company Law Tribunal (NCLT) has admitted the petition filed by Antrix Corporation, the commercial arm of Indian Space Research Organisation, for winding up Devas Multimedia and has appoi...

The National Company Law Tribunal, Bengaluru, on Tuesday admitted the petition filed by Indian Space Research Organization's commercial arm Antrix Corporation Ltd to wind up Devas Multimedia under Sections 271 and 272 of the Companies Act 2013. Antrix Corporation sought the winding up of Devas Multimedia on the grounds that the Bengaluru-based company's affairs were being have been conducted in a "fraudulent manner", "the company was formed for fraudulent and unlawful purpose", "the persons concerned in the formation or management of its affairs have been guilty of fraud, misfeasance or misco...