Tribunal Expects to Decide $1.6B India Tax Case in 2020: Cairn

Oct. 28, 2019, 9:31 AM

Cairn Energy PLC is likely to receive a decision on its arbitration proceedings against India over a $1.6 billion tax demand by next year, the company said.

This is the first time that The Hague-based international tribunal has clarified a specific time frame for when it will issue its verdict, the company said, citing communication from the tribunal.

The decision will weigh whether India’s retrospective tax demand on the U.K.-based energy giant violates the fair and equitable treatment of foreign investors guaranteed in the investment treaty between India and the U.K.

At issue in the case is India’s ...

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