NEW DELHI: The arbitration process initiated by Cairn Energy against the Indian government’s demand of retrospective tax dues worth Rs 10,247 crore has run into a hiccup, with the three-member Arbitral Tribunal indicating that the award will be further delayed to mid-2020, the British firm said on Monday.
The international tribunal, which had completed the main court hearings as long ago as August last year, had examined Cairn Energy’s challenge on the Indian government using retrospective legislation to seek Rs 10,247 crore in taxes related to its erstwhile subsidiary Cairn India. The tribunal was supposed to give an award by February 2019, but it had delayed it to 2019-end in March and now, has delayed it again to the summer of 2020.
