Cairn Energy sues India to enforce $1.2 billion award

17 Feb 2021 Editorial Team

British energy company Cairn has filed a case in a US district court to enforce a $1.2 billion arbitration award that it had won in a tax dispute against India.

In December, an arbitration body awarded Cairn damages of more than $1.2 billion plus interest and costs.

The panel had opined that India breached an investment treaty with Britain and said New Delhi was liable to pay. The court filing showed that Cairn wants to enforce the award under international arbitration rules and recover losses caused by India’s "unfair and inequitable treatment of their investments".

Media reports say Cairn urged the US courts to confirm the award and payment due since 2014 and interest compounded semi-annually.

Cairn has not commented on the matter yet. In a Twitter post on February 9, it said Chief Executive Simon Thomson was looking forward to meeting India’s Finance Minister in Delhi next week.

Image: The court filing showed Cairn's intent to invoke the New York Convention.

Infrastructure Urban

10 Apr 2026

Güntner Showcases Cooling Tech at China Expo

Güntner showcased its latest refrigeration and air conditioning innovations at China Refrigeration 2026, highlighting digital intelligence and carbon-neutral solutions.The company presented its aicore™ Controls and IoT platform, designed to optimise energy consumption, enable remote monitoring and enhance lifecycle management of cooling systems. The solution integrates advanced controllers and cloud-based capabilities to improve operational efficiency and reduce energy use.Güntner also demonstrated advancements in heat pump technologies, including its role in projects such as the Ordos Zer..

Superb Realty Ties Up with Praan for AI Air Tech

Superb Realty has partnered with Praan to deploy AI-powered autonomous air infrastructure across over one million sq ft of real estate in Mumbai, marking a significant move towards intelligent indoor environments.The rollout will begin at Superb Altura and expand across upcoming residential and mixed-use developments. The initiative aims to integrate real-time sensing, adaptive purification and AI-led optimisation to improve indoor air quality and occupant experience.Praan’s technology is designed to remove ultrafine particles significantly smaller than conventional systems and eliminate har..

DAAKit Raises $138,000 in Pre-Seed Round

DAAKit has raised $138,000 in a pre-seed funding round led by Inflection Point Ventures to expand its hyperlocal fulfilment network and strengthen technology capabilities.The company plans to use the funds to launch 25 new dark stores across Tier I and Tier II cities, enhance its technology infrastructure, and expand its leadership and operations teams. Currently operational in Delhi, Gurugram, Mumbai, Bengaluru and Kolkata, DAAKit is also piloting expansion into Tier II markets through Lucknow.Built on an asset-light, technology-driven model, the platform enables brands to position inventory ..