{"id":391361,"date":"2020-12-24T09:37:10","date_gmt":"2020-12-24T04:07:10","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=391361"},"modified":"2020-12-24T10:46:21","modified_gmt":"2020-12-24T05:16:21","slug":"double-blow-for-india-after-vodafone-cairn-energy-wins-investment-treaty-arbitration-against-new-delhi-in-5-year-old-tax-dispute","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/double-blow-for-india-after-vodafone-cairn-energy-wins-investment-treaty-arbitration-against-new-delhi-in-5-year-old-tax-dispute\/","title":{"rendered":"Double blow for India. After Vodafone, Cairn Energy wins investment treaty arbitration against New Delhi in 5-year-old tax dispute"},"content":{"rendered":"<p>Cairn Energy Plc said Wednesday that it has won the arbitration against the Indian government over a tax dispute arising from demand of $1.2 billion from tax department on listing of Indian operations back in 2007.<\/p>\n<p>The oil-major said that the tribunal had announced the award unanimously following which the Indian government will have to pay the UK-based company damages of $1.2 billion and interest.<\/p>\n<p>&#8220;The tribunal established to rule on its claim against the Government of India has found in Cairn\u2019s favour,&#8221; Cairn Energy Plc said in a statement in response to a query from ET. <\/p>\n<p>&#8220;The tribunal ruled unanimously that India had breached its obligations to Cairn under the UK-India Bilateral Investment Treaty and has awarded to Cairn damages of US$1.2billion plus interest and costs, which now becomes payable,&#8221; the company added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairn Energy Plc said Wednesday that it has won the arbitration against the Indian government over a tax dispute arising from demand of $1.2 billion from tax department on listing of Indian operations back in 2007. The oil-major said that the tribunal had announced the award unanimously following which the Indian government will have to pay the UK-based company damages of $1.2 billion and interest. &#8220;The tribunal established to rule on its claim against the Government of India has found in Cairn\u2019s favour,&#8221; Cairn Energy Plc said in a statement in response to a query from ET. &#8220;The tribunal ruled [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-391361","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=391361"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391361\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=391361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=391361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=391361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}