InvestorQ : What is the latest on the government dispute with Cairn Energy on retrospective taxes?
Moii Chavate made post

What is the latest on the government dispute with Cairn Energy on retrospective taxes?

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Tisha Malhotra answered.
1 month ago
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Cairn Energy is confident of recovering its monies from the Government of India in the retrospective tax dispute. Currently, Cairn holds the $1.2 billion favourable arbitral award against the Indian government. India has objected to the arbitral award as it infringes its sovereign right to tax income in India.

Government has asked PSU banks to ring-fence their global banking and physical assets to pre-empt any attempt by Cairn to lay claim.

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