Photo: Indian Express
British Firm Cairn Energy Files Lawsuit Against Air India
The British firm, Cairn Energy on May 14 sued Air India with respect to an arbitration award of $1.2 billion that it won in a tax dispute against India. Reportedly, the Indian government is required to pay Cairn Energy the entire sum with interest and costs. Moreover, the arbitration tribunal stated that India breached the investment treaty and was liable to pay back.
Tags: Air India, cairn energy, Sued, lawsuit, Arbitration
Courtesy: News18
Photo: The Motley Fool/Financial World
Stocks Down for Reliance and Future Retail after Halt in Deal
Stocks fell for Reliance and Future Retail by 3.65% and 5.01% respectively at BSE after the asset sale was halted by an arbitration panel. Amazon, which holds a 7.3% stake and 'Contractual rights' in the Future Retail initiated arbitrary proceedings as Reliance decided to buy the business of Future Retail for $3.38 billion. However, Future Retail said, “It was not party to the agreement under which Amazon had invoked arbitration.”
Tags: Reliance, Amazon, Future Retail, Arbitration
Courtesy: Reuters
