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.
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