PCA Tribunal directs Indian government to pay Cairn $1.23 billion in 2006 tax dispute

India has also been directed to pay Cairn over $22 million in legal costs and arbitration costs.
Vedanta Cairn
Vedanta Cairn

In another setback for the Indian government after the Vodafone case, a Permanent Court of Arbitration (PCA) Tribunal has directed it to pay Cairn Energy PLC over $1.23 billion as compensation for breaching terms of the India-UK Bilateral Investment Treaty (BIT).

India has also been directed to pay Cairn over $22 million in legal costs and arbitration costs.

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