2 min read.Updated: 02 Aug 2021, 03:27 PM ISTLivemint( with inputs from PTI )
India is facing a payout of $1.2 billion-plus interest after an arbitration award went against it
Cairn vs India: The government on Monday informed that it has not received any formal proposal from Britain's Cairn Energy to resolve the dispute within the country's legal framework. India is facing a payout of $1.2 billion-plus interest after an arbitration award went against it. In December last year, a three-member international arbitration tribunal unanimously overturned the levy of taxes on Cairn retrospectively and ordered refund of shares sold, dividend confiscated and tax refunds withheld to recover such demand.
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