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Synopsis There have been suggestions that Cairn, and even Vodafone, could opt for a settlement of the long-pending dispute by opting for ‘Vivad Se Vishwas’ scheme, where the entire disputed amount has to be paid by March 31. Reuters Although the government is still “studying the order”, its stance is clear and officials, who are due to meet a team led by Cairn CEO Simon Thomson, are expected to articulate the position. (This story originally appeared in on Feb 18, 2021)NEW DELHI: The government is in no mood to relent in its fight to recover $1.2 billion in tax claims from Cairn an...

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 ...

Synopsis If India fails to comply, it will fall foul of the New York Convention. "As India is a signatory to the New York Convention, the award can be enforced against Indian assets in numerous jurisdictions around the world for which the necessary preparations have been put in place," says Cairn CEO Thomson's letter to India. Reuters Related India is staring at a potential $1.2-billion loss of face as the long-running retro tax case against Cairn Energy, the British oil firm, nears its climax. At risk of seizure are Indian assets such as airplanes, bank accounts and other foreign properties ...

In December 2020, a tribunal based at The Hague, Netherlands had ruled that the Indian government should pay damages worth $1.2 billion to Cairn Energy.

Synopsis "We had a constructive dialogue and the dialogue is ongoing," ThomsonCairn Energy Plc Chief Executive Simon Thomson told reporters after meeting Finance Secretary Ajay Bhushan Pandey, CBDT Chairman P C Mody and other tax officials. He refused to comment on what transpired at the meeting. "I can't comment more on the meeting." Getty Images New Delhi: Nearly two months after it won an international arbitration tribunal ruling against the Indian government levying taxes retrospectively, Britain's Cairn Energy Plc Chief Executive Simon Thomson on Thursday met top finance ministry officia...