{"id":410221,"date":"2021-04-12T08:07:27","date_gmt":"2021-04-12T02:37:27","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=410221"},"modified":"2021-04-12T09:03:39","modified_gmt":"2021-04-12T03:33:39","slug":"arbitration-case-cairn-energy-offers-to-invest-1-2-bn-if-india-relents","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/arbitration-case-cairn-energy-offers-to-invest-1-2-bn-if-india-relents\/","title":{"rendered":"Arbitration case: Cairn Energy offers to invest $1.2 bn if India relents"},"content":{"rendered":"<p>As the tax battle intensifies between India and energy giant Cairn, with New Delhi challenging the $1.2-billion award at The Hague, the UK oil major has reached out to the Indian government through informal channels with a fresh proposal to settle the dispute, though with dim prospects of success. <\/p>\n<p>Cairn Energy has offered to invest the entire award money in India, which includes the principal amount of $1.2 billion and interest of $500 million if the government agrees to enforce the award. <\/p>\n<p>However, the government is unlikely to accede to the proposal, arguing that it would mean accepting the verdict, against which it has appealed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the tax battle intensifies between India and energy giant Cairn, with New Delhi challenging the $1.2-billion award at The Hague, the UK oil major has reached out to the Indian government through informal channels with a fresh proposal to settle the dispute, though with dim prospects of success. Cairn Energy has offered to invest the entire award money in India, which includes the principal amount of $1.2 billion and interest of $500 million if the government agrees to enforce the award. However, the government is unlikely to accede to the proposal, arguing that it would mean accepting the verdict, [&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-410221","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\/410221","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=410221"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/410221\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=410221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=410221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=410221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}