Final hearing in Cairn arbitration against retro tax to begin today

A three-member international arbitration tribunal will begin hearing under the cloud of tax department looking to sell Cairn's remaining shares in Vedanta to recover the tax demand

The final hearing in British oil firm Cairn Energy plc's challenge to India imposing a Rs 102.47 billion retrospective tax demand will begin in The Hague on Monday, people familiar with the matter said.
 

A three-member international arbitration tribunal will begin the 7-10-day-long hearing under the cloud of tax department reportedly looking to sell Cairn's remaining shares in Vedanta to recover the tax demand. 
 

The income tax department had beginning May 14 — the day the temporary charge of finance portfolio was given to Piyush Goyal sold about 64.5 million shares or around 40 per cent of Cairn's shareholding in Vedanta.