Govt. said to likely file appeal against Cairn arbitration award

Govt. said to likely file appeal against Cairn arbitration award

The Hindu

The Centre is likely to file an appeal against the $1.4 billion international arbitration award won by Cairn Energy in a tax dispute, even as the issue did not figure during two-days of talks the Finance Secretary held with the company officials to look for a resolution, sources with knowledge of the matter said. Soon after the second meeting in as many days between Cairn CEO Simon Thomson and Finance Secretary Ajay Bhushan Pandey ended, a person informed of the development said the government intends to defend its sovereign right in taxation and will file an appeal against an international tribunal ordering India to return $1.4 billion to the British firm.
Read full story on The Hindu
Share this story on:-
More Related News
Merchandise exports stay flat in February, Commerce Secretary warns of dip in March

India's merchandise exports remain flat in February, with Commerce Secretary warning of a potential dip in March due to trade constraints.

Hard Rock International announces closure of 10 of its outlets in India, including three cafes in Bengaluru

Hard Rock International closes 10 outlets in India, including three cafes in Bengaluru, while Goa hotel remains open.

Taiwan tech giant Foxconn posts 24% jump in annual net profit

The booming market for artificial intelligence servers brought Taiwan's Foxconn a 24 percent jump in annual net profit, the company said

Adobe reaches $150 million settlement of US lawsuit over termination fees, subscription cancellations

In a statement on its website, Adobe said it has in recent years streamlined its sign-up and cancellation ‌processes and made them more transparent.

Stock markets rebound in early trade after 3-day slump

Stock markets recover as Sensex and Nifty bounce back following a three-day slump, driven by value-buying in blue-chip stocks.

Trump administration set to receive $10 billion fee for brokering TikTok deal: Report

U.S. President Donald Trump’s administration is set to receive a roughly $10 ​billion fee from investors in the recently completed deal ‌to take control of TikTok’s U.S. business, the Wall ​Street Journal reported

Meta planning sweeping layoffs as AI costs mount

Meta is planning sweeping layoffs that ‌could affect 20% or more of the company, three sources familiar with the ​matter told Reuters

Choosing the right personal loan lender Premium

Learn how to choose the best personal loan lender by evaluating eligibility, interest rates, and borrowing experience.

Why pension planning can no longer be optional Premium

Discover why pension planning is essential in modern India to ensure financial security and peace during retirement.

Why is the U.S. investigating India? | Explained

The U.S. has launched two investigations under Section 301 of the Trade Act of 1974 against India and other economies to examine practices that may be ‘unreasonable or discriminatory and burden or restrict U.S. commerce’. One probe examines whether countries, including India, are using excess manufacturing capacity to export to the U.S. in a manner that hurts American businesses, while another looks at whether countries have taken ‘sufficient steps’ to prohibit imports of goods produced with forced labour.

NHAI increases annual pass fee by ₹75 to ₹3,075 effective April 1

NHAI raises annual pass fee to ₹3,075 from April 1, 2026, streamlining toll payments for FASTag users.

China may face closer scrutiny in U.S. forced-labour probe: GTRI

The U.S. probes forced labour in global supply chains, scrutinizing China and India's exports, warns the Global Trade Research Initiative.

In frames | War lights a kitchen fire

The Hindu collection of images of the LPG crisis: War lights a kitchen fire