{"id":428784,"date":"2021-08-03T11:08:17","date_gmt":"2021-08-03T05:38:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=428784"},"modified":"2021-08-03T11:08:17","modified_gmt":"2021-08-03T05:38:17","slug":"1-2-bn-arbitration-award-govt-says-no-formal-proposal-from-cairn-to-settle-dispute","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/1-2-bn-arbitration-award-govt-says-no-formal-proposal-from-cairn-to-settle-dispute\/","title":{"rendered":"$1.2 bn arbitration award: Govt says no formal proposal from Cairn to settle dispute"},"content":{"rendered":"<p>Facing a payout of USD 1.2 billion-plus interest after an arbitration award went against it, the government on Monday said it has not received any formal proposal from Britain&#8217;s Cairn Energy plc to resolve the issue within the country&#8217;s legal framework.<\/p>\n<p>A three-member international arbitration tribunal that consisted of one judge appointed by India, had in December last year unanimously overturned the levy of taxes on Cairn NSE 0.81 % retrospectively and ordered refund of shares sold, dividend confiscated and tax refunds withheld to recover such demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Facing a payout of USD 1.2 billion-plus interest after an arbitration award went against it, the government on Monday said it has not received any formal proposal from Britain&#8217;s Cairn Energy plc to resolve the issue within the country&#8217;s legal framework. A three-member international arbitration tribunal that consisted of one judge appointed by India, had in December last year unanimously overturned the levy of taxes on Cairn NSE 0.81 % retrospectively and ordered refund of shares sold, dividend confiscated and tax refunds withheld to recover such demand.<\/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":[130,191,136],"tags":[],"class_list":["post-428784","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\/428784","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=428784"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/428784\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=428784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=428784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=428784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}