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Cairn Energy’s Chief Executive Officer (CEO) Simon Thomson will meet Union finance secretary Ajay Bhushan Pandey on Thursday as the UK-based oil company builds pressure on India to honour a $1.2 billion arbitration award that went in its favour. The meeting comes in the backdrop of both sides hardening stand and the UK energy company filing a case in the US and the UK, seeking enforcement of an arbitration award. Thomson had sought an appointment with Finance Minister Nirmala Sitharaman who did not give a formal time. She, however, told Business Standard, “The finance secretary will mee...

Company planning to move a Canadian court soon

Cairn moves US court for USD 1.2 billion dues Oil and gas exploration giant Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India recently.  Share Via Email   |  A+A A- By Express News Service NEW DELHI:  Oil and gas exploration giant Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India recently.  According to a report from news agency Reuters citing a court document, the British firm has asked the US court to recognise a...

Updated Feb 17, 2021 | 18:28 IST ET Now learns that the FM may skip meeting Thomson since the budget session is underway and has asked Finance Secretary Ajay Bhushan Pandey to lead the meeting.  Representational Image  |  Photo Credit: IANS New Delhi: Indian government is preparing a strategy to appeal against the $1.2 billion arbitration award given to Britain’s Cairn Energy PLC by early March, amid the energy major ratcheting up pressure on the government to pay its dues.  ET Now learns that top Finance ministry officials along with officials from Law ...

Cairn CEO Simon Thomson is holding meetings with Indian ministers to discuss his company’s long-running transfer pricing dispute with the Income Tax Department to end the matter and claim a $1.4 billion arbitration award.