The Permanent Court of Arbitration in Singapore has rejected India's argume...
NEW DELHI - The Permanent Court of Arbitration in Singapore has rejected India’s argument that the court does not have the jurisdiction to rule on a case brought against India by Japan’s Nissan Motor, according to two people and documents reviewed by Reuters.
Nissan sent a legal notice to Indian Prime Minister Narendra Modi’s administration in 2016 claiming more than 50 billion rupees in a dispute over incentives it said were due from Tamil Nadu as part of a 2008 agreement to set up a car manufacturing plant in the southern state. The international tribunal, in a 140-page order dated April 29, denied India’s objections, saying it has the authority to rule on the matter and would hold the final hearing in February 2020 after submission of evidence and arguments from both sides.Nissan said in a statement it “continues to work with the government to resolve this matter”.
In the past, however, India has either voluntarily complied or settled the dispute prior to the award, said Khan. Earlier this week, Italian car maker Fiat Chrysler said it has proposed merging with Renault, in a deal which risks leaving Nissan out in the cold.
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