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2015
Cairn v. India Cairn Energy PLC and Cairn UK Holdings Limited v. The Republic of India (PCA Case No. 2016-7)
Nationality of the parties
India
United Kingdom
Summary of matters at issue
Interests in subsidiary Cairn UK Holdings Limited and 10 per cent shareholding in Cairn India Limited (CIL), one of the largest oil and gas exploration companies in India.
Claims arising out of a draft assessment order issued by the Indian Income Tax Department addressed to the claimant’s subsidiary, Cairn UK Holdings Limited, in respect of fiscal year 2006/7 in the amount of USD 1.6 billion plus any applicable interest and penalties; and the alleged prohibition for the claimant to sell its 10 per cent shareholding in Cairn India Limited.
Economic sector and subsector
Primary: B - Mining and quarrying
6 - Extraction of crude petroleum and natural gas
Arbitral rules and administering institution
UNCITRAL
Data not available
Composition of tribunal
Lévy, L.
Alexandrov, S. A.
Thomas, J. C.
Status/Outcome of original proceedings
Pending
Decisions rendered
None
Amount of compensation
1000.00 mln USD
Data not available
IIA breaches alleged/found
Data not available
Pending
Follow-on proceedings
None
Link to Italaw's case page