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Nissan, Tamil Nadu end $660-million tax dispute after five years

State government and Nissan file a joint compromise memo for withdrawal of case after reaching settlement

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Nissan initiated an international arbitration against India in 2016, claiming Rs 2,100 crore in unpaid dues and Rs 2,900 crore in damages

T E Narasimhan Chennai

2 min read Last Updated : Aug 27 2020 | 12:55 AM IST

Weeks after settling the $660 million tax dispute with the Tamil Nadu Government, Japanese automajor Nissan Motor today withdrew its petition related to the dispute from the Madras High Court.

The State government and Nissan Motor filed a joint compromise memo for withdrawal of the case filed by the former to restrain the firm from pursuing international arbitral proceedings with respect to alleged unpaid incentives of $660 million (Rs 5,000 crore).

Madras High Court Chief Justice Amreshwar Pratap Sahi and Justice Senthikumar Ramamoorthy allowed the parties to withdraw the petitions after they filed a joint compromise memo for withdrawal of

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