"cairn-energy"

The upper house is expected to approve the law as early as next week.

Govt intends to defend its sovereign right in taxation and will file an appeal against an international tribunal ordering India to return $1.4 billion to the British firm

Files cases to register $1.4 billion arbitration award it had won against India.

The firm has now won an international arbitration against the tax demand and the government has been ordered to return the value of shares of Cairn it had sold

The tribunal ordered the government to return the value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand.