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6 Trade L. & Dev. 359 (2014)
Changing Trajectories of Investment Protection in India: An Analysis of Compensation for Expropriation

handle is hein.journals/traladpt6 and id is 379 raw text is: Trade, Law and Development R. Rajesh Babu, Changing Trajectories of Investment Protection In India.- An Anaysis of Compensation for Expropriation 6(2) TRADE L. & DEV. 359 (2014) CHANGING TRAJECTORIES OF INVESTMENT PROTECTION IN INDIA: AN ANALYSIS OF COMPENSATION FOR EXPROPRIATION R. RAJESH BABu* The standard of compensation for e.propriation of aien property continues to remain one of the most contentious issues in international law. Despite persistent objection from the developing countries, the Hull formula and its variants have become an integral part of international investment jurisprudence. This paper examines the global discourse on the continuing relevance and the resurgence of the Hull standard in investment law and practice, nith speafic emphasis on the evolving Indian practice. The author views that the international processes have overwhelmingyl favored the Hull standard and paid hp service to 'appropriate standard, relegating the discourse to a remnant of a bygone era. The author urges that the contemporay relevance of 'appropriate' compensation is not at all lost, and the development of an international consensus should be the way-forward, rather than leaving the matter at the mergy of bilateral engagements dictated by the power imbalance or at the pleasure of the arbitration tribunals' inteapretations, whose legitimag is already supect. Reviving the debate for seeking a universal standard is a cruaal option available to the new Third World- Africa and other less developed countries. Associate Professor of Law, Public Policy and Management Group, Indian Institute of Management Calcutta. Email: rajeshbabu[at]iimcal.ac.in. The usual disclaimer applies.

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