India: we haven’t received any order on Cairn seizing assets

Cairn seizing assets

The Indian government said, “we didn’t receive any orders from the French government stating that Cairn Energy can seize the properties owned by India in Paris”. According to Cairn Energy, it is stated that they have been trying to recover their property of 1.2 billion dollars which they have won in a tax dispute.

 It is stated that the French court seized the residential real estate business that belongs to the government of India. This order from the French court almost seized 20 properties of India which had a worth of around 24 million dollars.

The news started to spread that the properties owned by India are now seized by Cairn Energy. The Indian government refuses this statement saying that no notice was received by the Indian government from the French court, reported by the finance minister.

India has filed and signed an application to set Internal arbitral awards in December 2020 in the Hague court. India says that we will fight in this case to get justice. It is also reported that the CEO of Cairn tried to resolve this problem with India. We are discussing ideas of construction and not destruction within the laws, stated the finance minister.

 

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