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During a series of hectic talks between Cairn Energy and the Indian government over the $1.2-billion arbitration award in favour of the former last week, a slew of options was proposed by the two sides, including computation of capital gains and participation in the Vivad se Vishwas (VsV) dispute resolution scheme. The government is likely to go ahead and appeal against the arbitration award by a Permanent Court of Arbitration at The Hague before March 21, indicated finance ministry officials. Cairn Energy Plc on Sunday said it was hopeful that an acceptable solution to its tax dispute wit...

India Business News: Cairn Energy Plc’s pitch for an early settlement of its claims hasn’t cut ice with the government, which is all set to appeal against an international

‘The government is keen to find an amicable solution to the controversial retrospective tax issue’

Cairn on its part remained tight-lipped on the parleys it has initiated with an aim to avert the company having to take legal recourse to recover the amount including through seizure of Indian assets overseas., , finance ministry, ceos

It also affirms to challenge other related suits Within hours of meeting between Finance Secretary Ajay B Pandey and Cairn Energy Chief Executive Office Simon Thomson, Government affirmed that it would not just file an appeal against the arbitration award but also contest other related legal suits. “The Govt will file an appeal against Cairn Arbitration award soon and will contest its sovereign rights to tax,” a Government source said on Friday. Further, he mentioned that it would also strongly contest other suits filed by Cairn Energy at various other international courts. More This is...