India Said Ready to Make Some Payment in Cairn Tax Dispute

The Indian government is prepared to pay to resolve a long-running tax dispute with Cairn Energy Plc, a senior official told BloombergQuint.

The comments appeared to mark a shift in the government’s position, though it continues to pursue an appeal against the international arbitral award Cairn won.

In the six months since the award, both sides have attempted a negotiated settlement. The government, still holding on to its tax claim, asked Cairn to settle under the “Vivad Se Vishwas” tax litigation settlement scheme.

Cairn refused. It offered to invest some of the more than $1.7 billion award in India if ...