Withholding tax on foreign arbitral awards - Delhi High Court settles the conundrumSeptember 16 2019
The Delhi High Court’s judgment in Glencore International AG v. Dalmia Cement (Bharat) Limited reinforces the pro-enforcement stand adopted by the Indian Courts in recent times. The Court’s decision on tax implications, if any, on a foreign arbitral award would assist several foreign stakeholders seeking to enforce their foreign arbitral awards in India.
The proceedings before the Delhi High Court emanated from an execution petition filed by Glencore International AG (Glencore) seeking to enforce and execute of a London seated award of about USD . . .
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