Page 4 - Arbitration

$1.2 bn arbitration: Govt says no proposal from Cairn to settle dispute

Facing a payout of $1.2 bn-plus interest after an arbitration award went against it, government said it has not received any formal proposal from Cairn Energy plc to resolve issue within country

Vodafone arbitration case: Singapore court to hear India's appeal in Sept

Arbitration court in September rejected India's demand for Rs 22,100 crore in back taxes and penalties from company.

Cairn arbitration: Govt confirms French court order against Indian assets

MoS Finance, in a written reply to a question in Rajya Sabha, said govt has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 cr in back taxes on Cairn Energy

Cairn Energy arbitration case: Riders to invoking 'sovereign immunity'

Earlier this month, a French court permitted Cairn Energy to freeze several India-owned assets in Paris for executing the $1.2-billion international arbitral award in the decade-long tax dispute

Sourav Ganguly moves HC for enforcement of 2018 arbitration award

Sourav Ganguly has approached the Bombay High Court seeking that the 2018 order of an arbitration tribunal that awarded him a compensation payable by his former management companies

What Cairn, Vodafone and Devas episodes tell us about India's arbitrariness

The Indian state's arbitrariness may have come to be accepted with resignation within the country, but when it behaves in the same manner with external players, it gets a push-back, writes T N Ninan

Cairn says it has won court order to freeze India state assets in Paris

Company says French development is 'necessary preparatory step' to take over Indian's state assets, calls for 'amicable settlement'.

Cairn Energy freezes 20 Indian state-owned properties in Paris: Reports

Scottish oil producer's action is its latest attempt to force India to pay $1.7bn awarded by an international tribunal over a tax dispute.

Centre trashes reports of forex withdrawal from PSBs to dodge Cairn seizure

The govt says it is vigorously defending its case in the dispute but remains open to an amicable solution within the country's legal framework

A near-empty CBDT tackles arbitration cases, domestic tax issues

Four vacancies in the Central Board of Direct Taxes (CBDT) have not been filled despite the Appointments Committee of Cabinet (ACC) clearing names in February, exposing administrative gaps

Best of BS Opinion: Encouraging exports, tripping up on arbitration & more

Here are the best of Business Standard's opinion pieces for Wednesday

Cairn Energy sues Air India to enforce $1.2 bn arbitration award: Report

The move ratchets up pressure on India's government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration tribunal in December

Arbitration case: Cairn digs in heels, PSBs say prepared for legal battle

Deposits are customers' money and not govt assets, hence can't be attached: Lenders

Taking action to access $1.2 bn arbitration award against India: Cairn

Cairn Energy Plc said it is taking all necessary actions to access the $1.7 bn it was awarded by an international arbitration tribunal after overturning a retroactive tax demand slapped by Indian govt

FM Sitharaman says looking at how best to sort out Cairn arbitration

Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return USD 1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand. "We don't believe in retrospective taxation," she said at a webinar organised by the Financial Times and The Indian Express. "However, when issues are taken at arbitration... which question India's sovereign right to taxation, we are worried that it sets a wrong precedent." The Indi

Arbitration case: Cairn Energy offers to invest $1.2 bn if India relents

Cairn Energy has offered to invest the entire award money in India, which includes the principal amount of $1.2 billion and interest of $500 million if the government agrees to enforce the award

In relief for Amazon, Delhi HC puts Future-Reliance deal on hold

The court held that Future Retail, Future Coupons (the promoter entity of Future Retail), founder and owner Kishore Biyani and others violated the Emergency

Parliament passes Arbitration Amendment Bill to protect taxpayer money

Section 36 of the (Arbitration) Act says the arbitration award be set aside if it is against public policy, said Law Minister Ravi Shankar Prasad in Rajya Sabha

The hurdles in the long road to India's entry into global bond indices

The govt needs to examine its options to join global central securities depositories without ceding tax sovereignty. This could considerably delay India becoming a part of global bond indices.

India ready to appeal Cairn's $1.2 billion arbitration award this week

Courts in five countries, including the US and UK, have given recognition to the $1.4 billion arbitration award