S&R Associates win Arbitration for Cairn Energy against India at the Permanent Court of Arbitration

S&R Associates win Arbitration for Cairn Energy against India at the Permanent Court of Arbitration

S&R Associates represented Cairn Energy PLC and Cairn UK Holdings Limited ("Cairn Energy") in successful arbitration against the Republic of India ("India") under the UK-India Bilateral Investment Treaty (the "UK-India Treaty"), for claims arising from retrospective tax measures taken by India. The arbitral tribunal held India to be in breach of its obligations to Cairn Energy under the UK-India Treaty and awarded damages of USD 1.2 billion, together with interest and costs.

Cairn is one of Europe's leading independent oil and gas exploration and development companies.

According to Cairn Energy website, "Cairn's claim was brought under the terms of the UK-India Bilateral Investment Treaty, the legal seat of the tribunal was the Netherlands and the proceedings were under the registry of the Permanent Court of Arbitration. The tribunal ruled unanimously that India had breached its obligations to Cairn under the UK-India Bilateral Investment Treaty and has awarded to Cairn damages of US$1.2billion plus interest and costs, which now becomes payable."

The S&R team was led by partners Niti Dixit and Uday Walia (now with Touchstone Partners) and included counsel Abhishek Tewari and associate Aubert Sebastian.

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