Cairn Energy secures French court order to seize 20 Indian govt properties – The Hindu BusinessLine

Clipped from:

Recovery is part of a $1.7-billion arbitration award over reversed retrospective tax demand

Britain’s Cairn Energy Plc has secured a French court order to seize about 20 Indian government properties in France to recover a part of the $1.7-billion arbitration award, sources said on Thursday.

Cairn Energy lawsuit in US against Air India may stumble over precedent

An arbitration panel had in December ordered the Indian government to return $1.2 billion-plus interest and penalty to Cairn Energy after reversing a retrospective tax demand.

Cairn Energy arbitration: India should honour its word and pay $1.4 billion, says company

With the Indian government not honouring the award, Cairn Energy has moved in multiple jurisdictions overseas to recover the amount due by seizing Indian government assets.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s