French Court lets Cairn Energy seize 20 Indian govt assets

French Court lets Cairn Energy seize 20 Indian govt assets

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. br On June 11, the French court had ordered Cairn Energy’s take-over of Indian government properties, mostly comprising flat; and the legal process got completed on Wednesday evening. br 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.


User: India Today

Views: 25

Uploaded: 2021-07-08

Duration: 02:10