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.
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