{"id":401598,"date":"2021-02-22T12:27:44","date_gmt":"2021-02-22T06:57:44","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=401598"},"modified":"2021-02-22T12:29:25","modified_gmt":"2021-02-22T06:59:25","slug":"britains-cairn-hopeful-of-solution-in-1-2-billion-plus-tax-tussle-with-india","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/britains-cairn-hopeful-of-solution-in-1-2-billion-plus-tax-tussle-with-india\/","title":{"rendered":"Britain\u2019s Cairn hopeful of solution in $1.2 billion-plus tax tussle with India"},"content":{"rendered":"<p>Cairn Energy Plc said on Sunday it had discussed multiple proposals with Indian government officials in recent days in an attempt to find a \u201cswift solution\u201d to a long-drawn-out tax dispute with the South Asian nation. In December, an arbitration body awarded the British firm damages of $1.2 billion-plus interest and costs, after ruling India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty.<\/p>\n<p>This month, Cairn filed a case in a U.S. district court to enforce the arbitration award, taking an initial step in its efforts toward recovering dues. The U.S. court this week issued electronic summons to the Indian government to file its response to the lawsuit within 60 days or face a judgment by default. In a release on Sunday, Cairn said it had held \u201ccordial and constructive discussions\u201d with officials from the Indian finance ministry.<\/p>\n<p>\u201cWe remain hopeful that an acceptable solution can be found, in order to avoid further prolonging and exacerbating this<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairn Energy Plc said on Sunday it had discussed multiple proposals with Indian government officials in recent days in an attempt to find a \u201cswift solution\u201d to a long-drawn-out tax dispute with the South Asian nation. In December, an arbitration body awarded the British firm damages of $1.2 billion-plus interest and costs, after ruling India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty. This month, Cairn filed a case in a U.S. district court to enforce the arbitration award, taking an initial step in its efforts toward recovering dues. The U.S. court this week issued electronic [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-401598","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401598","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=401598"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401598\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=401598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=401598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=401598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}