Shantanu Singh [i] In mid-May, news broke out that UK’s Cairn Energy had filed a declaratory suit in a US District Court against Air India, India’s flag carrier airline. This news came amid Indian government’s renewed attempt at privatizing the airline, which, as the Aviation minister announced, remained the only viable option besides a complete shutdown. It was certainly an odd situation with the government’s attention split between selling off a loss-making entity and a rat

Ajay Lulla [i] Introduction Not long after India was criticized for its conduct in the Vodafone case, it has yet again been adjudged to have violated the UK-India Bilateral Investment Treaty (BIT) in an arbitral proceeding at the Permanent Court of Arbitration. The claimant, Cairn Energy, a UK-based company has been awarded $1.4 billion in compensation for damages as a result of the retrospective tax amendment by the Government of India. Due to its longevity, the case is high