Business Standard

India to file appeal against Cairn's $1.2 billion arbitration award

New Delhi has time till March 21 to file an appeal in accordance with a 90-day window


The case pertains to the Rs 24,500-crore tax demand on capital gains made by the oil major in reorganising its India business in 2006-07

Indivjal Dhasmana
India will file an appeal against the Cairn arbitration award, which it lost, soon and will defend its sovereign rights to tax, sources said, even as Cairn Energy Chief Executive Officer Simon Thomson again met Finance Secretary A B Pandey on Friday, seeking a swift enforcement of the more than $1.2-billion award during his meeting with top finance ministry officials.

Sources said the government would contest other suits filed by Cairn Energy at various other international forums.

The energy major has filed a case in the US, the UK, and the Netherlands on executing the December 21 award.

Meanwhile, sources said the government

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First Published: Feb 19 2021 | 10:22 AM IST

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