India files appeal against Cairn arbitration award regarding Rs 10,247 crore back tax

NEW DELHI: India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for Rs 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.