Govt files appeal against $1.2-billion Cairn arbitration verdict

Will also contest the enforcement in other jurisdictions, including the UK, US

India filed an appeal against the Cairn Energy arbitration verdict at The Hague on Monday night, challenging the $1.2-billion award on grounds of sovereignty and tax avoidance by the UK oil major.

Based on the appeal, New Delhi will seek a stay on enforcement of the award filed by Cairn in a lower Dutch court and will also contest the enforcement in at least eight other jurisdictions, including the UK, Canada, the US, and France.

According to Dutch law, India had time till mid-April to file an appeal. But New Delhi filed it earlier to be able to get a stay on