ADVERTISEMENT
India To Appeal Arbitration Ruling In $1.3 Billion Tax Dispute With Cairn
05 Mar 2021, 04:00 PM IST
The finance minister on Friday said New Delhi will appeal against the arbitration decision questioning the authority of the country to levy tax, when asked about a retrospective decision on Cairn Energy Plc.
Nirmala Sitharaman was speaking to reporters in New Delhi. In December, an arbitration body awarded the British firm damages of $1.2 billion-plus interest and costs, after ruling India had breached its obligations to Cairn under the U.K- India Bilateral Investment Treaty.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT