Cairn arbitration case

It is a retrospective tax case litigated between the Indian government and Cairn Energy Plc, an oil and gas firm, by the Permanent Court of Arbitration at the Hague. The court ruled that the Indian government’s tax demands were inconsistent with UK- India bilateral treaty and asked the government to pay 1.2 billion USD to the firm. This is the second such defeat for India after the Vodafone case.

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