Page 3 - Arbitration

Arbitration case: Cairn digs in heels, PSBs say prepared for legal battle

Deposits are customers' money and not govt assets, hence can't be attached: Lenders

Taking action to access $1.2 bn arbitration award against India: Cairn

Cairn Energy Plc said it is taking all necessary actions to access the $1.7 bn it was awarded by an international arbitration tribunal after overturning a retroactive tax demand slapped by Indian govt

FM Sitharaman says looking at how best to sort out Cairn arbitration

Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return USD 1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand. "We don't believe in retrospective taxation," she said at a webinar organised by the Financial Times and The Indian Express. "However, when issues are taken at arbitration... which question India's sovereign right to taxation, we are worried that it sets a wrong precedent." The Indi

Arbitration case: Cairn Energy offers to invest $1.2 bn if India relents

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

In relief for Amazon, Delhi HC puts Future-Reliance deal on hold

The court held that Future Retail, Future Coupons (the promoter entity of Future Retail), founder and owner Kishore Biyani and others violated the Emergency

Parliament passes Arbitration Amendment Bill to protect taxpayer money

Section 36 of the (Arbitration) Act says the arbitration award be set aside if it is against public policy, said Law Minister Ravi Shankar Prasad in Rajya Sabha

The hurdles in the long road to India's entry into global bond indices

The govt needs to examine its options to join global central securities depositories without ceding tax sovereignty. This could considerably delay India becoming a part of global bond indices.

India ready to appeal Cairn's $1.2 billion arbitration award this week

Courts in five countries, including the US and UK, have given recognition to the $1.4 billion arbitration award

US, UK, 3 other courts confirm $1.4 bn arbitration award against India

Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc

It is my duty to appeal: FM Sitharaman on Cairn arbitration award

India's sovereign authority to tax cannot be questioned by anybody, she asserts

$1.2-bn arbitration award: Cairn, govt discuss long-term capital gains tax

Company will invest in India, but looking for 'acceptable solution' to tax dispute

India in talks with Dutch lawyers to file an appeal against Cairn verdict

India is expected to take a stand that the government has the sovereign right of taxation and private individuals cannot decide on that

Vodafone tax case: India moves Singapore HC against arbitration panel order

The govt has challenged in the Singapore High Court an international arbitration tribunal's verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone

Cairn threatens to enforce arbitration award against Indian assets overseas

Cairn was awarded damages of over $1.2 billion plus interest and costs in the long-drawn tussle over a tax dispute

Decoded: Why Vodafone, Cairn retro tax cases are in for a long haul

The government sticking to its stand that bilateral investment treaties cannot override a nation's sovereign right to tax

India challenges Vodafone arbitration award, plans the same in Cairn case

Experts mixed on the Indian government response. Some say it will send wrong signal to investors, while others say bilateral investment treaties exclude tax disputes

Best of BS Opinion: Life after Covid vaccine, tax arbitration case & more

Here's a selection of Business Standard opinion pieces for the day

Twin blows in three months

Govt must move on, accept retro tax arbitration awards

Best of BS Opinion: Making a mockery of arbitration, LVB crisis, and more

Here's a selection of Business Standard opinion pieces for the day

Making a mockery of arbitration

Ending "tax terrorism" was the BJP's promise in the 2014 election that brought Narendra Modi to power giving hope to the likes of the UK's Cairn Energy Plc. But the hopes have been belied