Corruption and investment treaty arbitration in India

Ranjan, Prabhash (2024) Corruption and investment treaty arbitration in India. In: Corruption and illegality in Asian investment arbitration. Asia in Transition, 22 . Springer, Singapore, pp. 235-258. ISBN 978-981-99-9305-5

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Abstract

There has been a stupendous expansion of investor–state dispute settlement (ISDS) cases involving foreign investors challenging sovereign state action as breaches of the investment treaty. This expansion has resulted in a wide range of non-investment concerns being brought before ISDS tribunals. One such non-investment concern is corruption. ISDS tribunals are increasingly required to deal with the allegation that the foreign investor was involved in corrupt activities in the host state while making or working on the investment. Against this global backdrop, this chapter looks at this issue in the Indian context. The chapter studies India’s new investment treaty practice, which has developed in the last few years as a response to a large number of ISDS claims brought against India. India’s new investment treaty practice has provisions aimed at dealing with foreign investors’ corrupt practices, which is a step forward considering that India’s old investment treaties didn’t deal with corruption. However, there’s a need to strengthen these provisions in a manner that would allow the host state to bring counter-claims against foreign investors. The chapter also discusses the case of Devas v. India, where India (mis)handled the issue of the alleged involvement of the investor in corruption

Item Type: Book Section
Keywords: Investor–state dispute settlement (ISDS) cases | Devas v. India | ISDS tribunals
Subjects: Social Sciences and humanities > Social Sciences > Social Sciences (General)
Social Sciences and humanities > Social Sciences > Law and Legal Studies
JGU School/Centre: Jindal Global Law School
Depositing User: Subhajit Bhattacharjee
Date Deposited: 22 Apr 2024 15:43
Last Modified: 22 Apr 2024 15:43
Official URL: https://doi.org/10.1007/978-981-99-9303-1_9
URI: https://pure.jgu.edu.in/id/eprint/7666

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