PERMANENT COURT OF ARBITRATION Subject: International Organisations Context : German telecom company Deutsche Telekom, an investor in Indian firm Devas Multimedia Pvt Ltd, has filed a petition in a US court against the Indian government seeking confirmation of a $135-million compensation payment to it. Concept: The compensation, which includes interest, was awarded by […]
PERMANENT COURT OF ARBITRATION Subject : International Organisations Context :The government had explained to SC that India was bound by the award of the arbitral tribunal formed under the United Nations Convention on the Law of the Sea (UNCLOS) in Italian mariners case. Concept : Permanent Court of Arbitration Established in: 1899. HQ: […]
PERMANENT COURT OF ARBITRATION Subject: International Organisations Context: Courts in five countries, including the U.S. and the U.K., have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc. The company had moved courts in nine countries to enforce the December 21 award from a three-member […]
Subject: International Organisations Context: Cairn Energy Plc won a major relief on Wednesday as the Permanent Court of Arbitration at The Hague ruled that the Indian government’s retrospective tax demand against the global oil and gas major was “inconsistent” with the UK-India bilateral treaty. Concept: The Permanent Court of Arbitration (PCA) is an intergovernmental organization […]