{"id":403241,"date":"2021-03-06T08:35:01","date_gmt":"2021-03-06T03:05:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=403241"},"modified":"2021-03-06T08:40:52","modified_gmt":"2021-03-06T03:10:52","slug":"1-4-bn-cairn-arbitration-award-sitharaman-says-its-her-duty-to-appeal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/1-4-bn-cairn-arbitration-award-sitharaman-says-its-her-duty-to-appeal\/","title":{"rendered":"$1.4 bn Cairn arbitration award: Sitharaman says its her &#8216;duty&#8217; to appeal"},"content":{"rendered":"<p>Finance Minister Nirmala Sitharaman on Friday indicated the government&#8217;s intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK&#8217;s Cairn Energy Plc, saying it is her &#8220;duty&#8221; to appeal in cases where the nation&#8217;s sovereign authority to tax is questioned. <\/p>\n<p>Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect. <\/p>\n<p>While the government has already challenged in a Singapore court an international arbitration tribunal verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, it hasn&#8217;t yet done so against a December 21 award asking India to return the value of shares seized and sold, divided, confiscated and tax refund stopped to adjust a Rs 10,247 crore tax demand on Cairn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Nirmala Sitharaman on Friday indicated the government&#8217;s intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK&#8217;s Cairn Energy Plc, saying it is her &#8220;duty&#8221; to appeal in cases where the nation&#8217;s sovereign authority to tax is questioned. Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect. While the government has already challenged in a Singapore court an international arbitration tribunal verdict that overturned its demand for Rs 22,100 crore in back [&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":[135,130,169],"tags":[],"class_list":["post-403241","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/403241","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=403241"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/403241\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=403241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=403241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=403241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}