Cairn Energy urges India to honour arbitration award in retro tax case
New Delhi: British Energy major Cairn Energy Plc on Tuesday urged India to quickly give effect to an arbitration award the company won against the Indian government in a controversial tax dispute.
Cairn said in a tweet that its chief executive officer Simon Thomson is looking forward to meeting finance minister Nirmala Sitharaman next week in the capital.
In an accompanying video statement, Thomson urged India to swiftly give effect to the award– $1.2 billion in damages plus cost and interest—to reassure global investors in the company and to uphold India’s business climate.
