All content in this website is sourced legitimately

Page No: 1
Cairn Energy vs. Government of India: How will a favourable verdict for Cairn work out?
Sep 13: What will eventually happen if Cairn Energy Plc were to win the arbitration battle over taxation with India?
8The arbitration process is getting wrapped up in Hague and an award is expected soon.
8Meanwhile, the Indian income tax department has already begun selling Cairn's shares in Vedanta and seizing dividends
8Cairn has already recorded a loss on de-recognition of the shares sold
8A Cairn arbitration win will throw up an interesting conundrum: How will money be recovered from a government that has already disposed off the company's assets?
8The oil major is confident of that it can wrestle a favorable award out of the Indian government by using the conditions guaranteed under the UK-India Bilateral Investment Treaty
8But as RIL has found in recent arbitrations with the government,  forcing the government to give in to a unfavorable award is an uphill task.
8A willful government can throw up all kinds of challenges to an arbitration award.
8To the E&P community abroad, the signals are clear: if you fall foul of the government, there is no real recourse left for you to fight back
Click on Reports  for more  


Back  |  Top