India’s steps to better protect itself hasn’t curbed the appetite of foreign investors, suggesting that the perceived correlation between FDI and robust investor protection is overstated.
The settlement is under the Taxation Laws (Amendment) Act, introduced this year to put an end to 17 tax disputes India has with multinational companies like Cairn and Vodafone Plc.
Devas Multimedia’s investors are eyeing several properties owned by the Indian government across the world, as they seek to enforce a $1.3 billion arbitral award the satellite company won against Antri.
Le gouvernement indien s’efforce de résoudre ce problème le plus rapidement possible et vise une conclusion dans les prochaines semaines, a déclaré le directeur général de Cairn.
Cairn Energy will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a $1 billion refund resulting from the scrapping of a retrospective tax law.
Le gouvernement indien a publié une proposition de loi fiscale visant à mettre fin à une bataille judiciaire de plusieurs milliards de dollars l’opposant à des compagnies étrangères.
India proposed scrapping a controversial law that taxed companies retrospectively, a move that could potentially settle its multi-billion-dollar tax cases with Cairn Energy and Vodafone.
The government confirmed that a French court has ordered the freezing of certain Indian assets on a petition by Britain’s Cairn Energy, which is seeking to recover USD 1.72 billion arbitration award.
Cairn Energy a affirmé avoir obtenu le droit de « geler » des biens immobiliers appartenant à l’Inde et situés à Paris, dans sa dernière tentative de récupérer 1,7 milliard de dollars qu’elle estime lui être dus par New Delhi.