Government refutes news of seizure of Indian assets, said this

New Delhi. It was recently revealed in media reports that in the tax dispute with India, the French court has given a decision in favor of the UK company Cairn Energy. It was learned that Cairn Energy has obtained an arbitration order from a French court to confiscate 20 Indian government properties located in France to recover damages of USD 1.7 billion. However, the Government of India has denied this news. The Ministry of Finance said that the government has not received any notice or order from any French court in this regard.

According to the Ministry of Finance, the government has already filed an application on 22 March 2021 in the Hague Court of Appeal to annul the December 2020 International Arbitration Award. The Government is trying to ascertain the facts and whenever such an order is received, appropriate legal measures will be taken in consultation with its lawyers to protect the interests of India.

Cairn CEO and representatives have approached the government for discussion
The Finance Ministry said that the CEO and representatives of Cairn have approached the Government of India for discussions to resolve the matter. Discussions have taken place and the government is ready to resolve the dispute within the legal framework of the country.

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