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Cairn wants India to honour its word and pay $1.4 billion, shareholders to seek enforcement SECTIONS Last Updated: Mar 07, 2021, 11:02 AM IST Share Synopsis Cairn has already moved courts in the US, UK, Netherlands, Canada, France, Singapore, Japan, UAE and Cayman Islands to get the December 21 international arbitration tribunal award registered and recognised. Reuters British oil firm Cairn Energy said its shareholders, including top financial institutions of the world, expect the use of the company's "strong powers of enforcement" to recover $1.4 billion from the Indian government should it...

Cairn had challenged the tax demand under the UK-India Bilateral Investment Treaty

$1.4 bn Cairn arbitration award: FM Sitharaman says its her duty to appeal Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect. Finance Minister Nirmala Sitharaman PTI Finance Minister Nirmala Sitharaman on Friday indicated the government's intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK's Cairn Energy Plc, saying it is her "duty" to appeal in cases where the nation's sovereign authority to tax is questioned. Last year, ...

Cairn Energy arbitration: Nirmala Sitharaman says its her duty to appeal over USD 1.4 billion return The tax department had in January 2014 raised the issue of alleged capital gains Cairn made on reorganising its India business prior to an IPO in 2006-07. Share Via Email   |  A+A A- By PTI NEW DELHI: Finance Minister Nirmala Sitharaman on Friday indicated the government's intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK's Cairn Energy Plc, saying it is her "duty" to appeal in cases where the nation's sovereign authority to tax is questioned...

Asked about the Quad grouping and whether the UK would be interested in joining it if it decides to expand membership, Ellis said it was up to the grouping how it wants to do things.