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Cairn update on India tax dispute

20 September 2017 08:11

Cairn Energy has issued a procedural update on its dispute with the Indian government under the UK India Bilateral Investment Treaty.

Cairn said: 'The arbitration proceedings are well advanced, and the tribunal and parties have now agreed the process and timetable for finalising document production, submissions and hearings.

'This includes some extensions to the previously agreed schedule, and taking into account the tribunal and parties' availability, the final hearing has now been scheduled for August 2018.

'The tribunal stated that it expects the parties to strictly adhere to the deadlines set out in the amended procedural calendar and it will make appropriate arrangements to progress with the drafting of the award as expeditiously as possible.'

At 8:11am: (LON:CNE) Cairn Energy PLC share price was -0.5p at 180.3p

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