India to appeal against arbitration decision questioning authority to tax

NEW DELHI, March 5 (Reuters) - India's finance minister on
Friday said New Delhi will appeal against the arbitration
decision questioning the authority of the country to levy tax,
when asked about a retrospective decision on Cairn Energy Plc
.

Nirmala Sitharaman was speaking to reporters in New Delhi.

In December, an arbitration body awarded the British firm
damages of $1.2 billion plus interest and costs, after ruling
India had breached its obligations to Cairn under the U.K.-India
Bilateral Investment Treaty.
(Reporting by Nidhi Verma; Editing by Toby Chopra)