{"id":391428,"date":"2020-12-24T12:05:40","date_gmt":"2020-12-24T06:35:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=391428"},"modified":"2020-12-24T12:05:40","modified_gmt":"2020-12-24T06:35:40","slug":"double-whammy-after-vodafone-india-loses-cairn-case-too","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/double-whammy-after-vodafone-india-loses-cairn-case-too\/","title":{"rendered":"Double Whammy: After Vodafone, India loses Cairn case too"},"content":{"rendered":"<p>New Delhi\u2019s 2012 law empowering itself to make tax demands concerning cross-border deals all the way back to 1962, citing \u2018underlying Indian assets\u2019 has been exposed as a misadventure for the second time in a little over three months. The Permanent Court of Arbitration at The Hague on Wednesday not only invalidated India\u2019s $2.74-billion 2015 tax claim on Cairn Energy, but also ordered it to return up to $1.4 billion in funds withheld, interest and costs, to the firm.<\/p>\n<p>The new ruling came amid a looming December-end deadline for India to appeal against a similar September 2020 verdict by the same tribunal in favour of telecom major Vodafone (Now Vodafone-Idea in India) and anxiety among investors over India\u2019s imminent move.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi\u2019s 2012 law empowering itself to make tax demands concerning cross-border deals all the way back to 1962, citing \u2018underlying Indian assets\u2019 has been exposed as a misadventure for the second time in a little over three months. The Permanent Court of Arbitration at The Hague on Wednesday not only invalidated India\u2019s $2.74-billion 2015 tax claim on Cairn Energy, but also ordered it to return up to $1.4 billion in funds withheld, interest and costs, to the firm. The new ruling came amid a looming December-end deadline for India to appeal against a similar September 2020 verdict by the [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-391428","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391428","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=391428"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391428\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=391428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=391428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=391428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}