Cairn Energy’s Rs 29,000-cr arbitration gets underway

NEW DELHI: British explorer Cairn Energy’s arbitration against a Rs 29,047-crore retrospective tax demand has begun, with the adjudicating panel fixing timelines,

NEW DELHI: British explorer Cairn Energy’s arbitration against a Rs 29,047-crore retrospective tax demand has begun, with the adjudicating panel fixing timelines, to help complete the arbitration in less than 12 months. The three-member arbitration panel headed by Geneva-based arbitrator Laurent Levy held its first procedural hearing in Paris a few weeks back, sources privy to the development said.

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