Thread by @thesuniljain

MASSIVE WIN for @CairnEnergy though the markets seem to be confusing this with @CairnOilandGas which is a @VedantaLimited firm and had bought CairnEnergy's India business
Now to see if @narendramodi govt will pay $1.2bn damages
India's CREDIBILITY at stake

As in the @VodafoneGroup case, in the @CairnEnergy case too, the award was unanimous
that means even the arbitrator that the Indian government nominated voted against India

Apart from fact that late @arunjaitley had said court/arbitration awards would b respected as solutions 2 @INCIndia retro-tax, Cairn case was examined by govt on many occasions prior to late #PranabMukherjee's retro tax, and issue of tax dues never raised

financialexpress.com/opinion/govern…

Delhi HC ruled against this last year,but taxman said Swiss firm Xstrata’s arbitration award against Dalmia Bharat was a 'windfall gain', as in lotteries, betting etc Was taxman admitting enforcing arbitration awards in India is a matter of luck,a lottery?
bit.ly/3hdpya1