India files appeal against $1.4-bn Cairn arbitration award
New Delhi: India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for ₹10,247 crore in back taxes from Cairn Energy Plc — the second time in three months that it has refused to accept an international award against retrospective tax.
The appeal was filed on Monday, a source with knowledge of the matter said.
The Finance Ministry spokesperson did not immediately respond to an e-mail sent for comments.
The appeal against a three-member tribunal at the Permanent Court of Arbitration at The Hague invalidating India’s ₹10,247 crore tax claim on Cairn Energy and ordering the government to return the value of shares it had sold,
