India has been ordered to return upto $ 1.4 billion to Cairn energy PLC of United Kingdom.
India lost the arbitration case at an international arbitration tribunal.
The three member tribunal comprised of a nominee of the Indian government.
The tribunal uninamously ruled that India’s claim of 10,247 crore rupees in past taxes over a 2006-07 internal reorganisation of Cairn India business was not a valid demand.
# New coronavirus strain in UK
A new virus strain found in UK has created a sense of fear in different parts of the world.
This coronavirus strain is found to be 70% more efficient in transmission.
However, it is not ascertained if, it is more deadly or lethal than the previous one or not.
Many european countries and India has decided to put a travel ban on UK bound flights.
Most of the travellers in last few weeks from UK are being traced and tested for coronavirus and further contact tracing is being done.
# I&B ministry
The cabinet on wednesday approved the merger of four government run film media units.
These include the merger of the films divisions, the directorate of film festivals, the national film archives of India and the autonomous body children’s film society – with the national film development corporation.
Thw merger of film media units under one corporation will lead to convergence of activities and resources and better coordination.
The films division, established in 1948 and the oldest of the four units,was created primarily to produce documentaries and news magazines as publicity for government programmes and to keep a cinematic record of Indian history.
# Nepal
The supreme court of Nepal on wednesday started hearing writ petitions filed against the dissolution of the house of representatives by president Bidhya Devi Bhandari.
The Supreme court has now transferred the case to a constitutional bench.
The bench will examine the constitutionality of the decision to dissolve the house especially as the 2015 constitution does not allow for such a move for political necessities.
# GST registration
The government has introduced mandatory physical verification of business premises for the purpose of obtaining GST registration.
The GST council secretariat said that the move, aimed at controlling the menace of GST fake invoice frauds, was recommended by the council’s law committee.
Now, there must be in person verification before registration is granted to an applicant.