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.
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.
For reference, please see Cairn Energy PLC’s announcement in relation to the tribunal’s ruling available at https://www.cairnenergy.com/news-media/news/2020/arbitration-award/#Tabundefined=1.
Cairn Energy wins over $1.2bn award in Tax Arbitration against India at ICJ
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