An international arbitration tribunal in February will begin trial on Vodafone’s challenge to India using a retrospective legislation to seek Rs 22,100 crore in taxes.
The Delhi High Court today allowed Vodafone Group representatives to participate in the process of appointing a presiding arbitrator in its international arbitration process against India in connection with a tax demand of Rs 11,000 crore.
Le tribunal a estimé que la société requérante n’avait pas de siège social au Luxembourg et a fait preuve d’abus de droit pour « étayer la réalité de son siège social luxembourgeois »
The tribunal ruled that the investor did not have a head office in Luxembourg and had abused its rights to “give the impression that it had a Luxembourg head office”
The Edinburgh-based oil and gas explorer says both it and the Government of India have agreed a timetable for finalising document production, submissions and hearings.
By restraining a foreign investor from pursuing a claim under a bilateral investment treaty (BIT), the Delhi high court is coming in way of India’s accountability being tested under international law.
UK-based Cairn Energy Plc has increased its compensation claim by $249 million in the retrospective dispute case after the income tax department adjusted tax refund due to the oil explorer towards settlement of its tax liabilities.