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An arbitration case against the Government of India is adding heavily to Cairn Energy’s administration expenses. In its latest annual report, the British oil firm has revealed that the cost of fighting the arbitration against the Rs 10, 247 crore tax imposed by India nearly tripled in 2018, while it has lost investments and tax refunds pending final award. Cairn has so far spent approximately $ 22.9 million in 2018.
