Research scholar at IIT Kharagpur, India
Last year in December while deciding an investment dispute related to the sovereign right to tax, a PCA tribunal at The Hague, ruled in Cairn Energy's favour an award of $1.72 bn. against India. However, India is determined to protect her sovereign right to tax and vowed not to accept the arbitral award. In these circumstances, the British Oil giant Cairn Energy Plc. has started locating Indian assets in different countries and moved courts in several jurisdictions under the international treaty for the enforcement of the arbitral award. It is reported that Cairn Energy has registered the arbitral award in more than ten countries including the US, France, the UK. Recently, a Paris based court has ordered to freeze Indian government assets valued at around $20 mn. In this background, I will argue that how far the doctrine of state immunity help India to protect her assets in foreign countries.
Research Paper
International Journal of Law Management and Humanities, Volume 4, Issue 4, Page 3784 - 3790
DOI: https://doij.org/10.10000/IJLMH.111793This is an Open Access article, distributed under the terms of the Creative Commons Attribution -NonCommercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting, and building upon the work for non-commercial use, provided the original work is properly cited.
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