: India has not received any order on Cairn Energy seizing government properties in Paris, says Centre #IndiaNEWS The Narendra Modi-led administration on Thursday said that it has not received any “notice,

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India has not received any order on Cairn Energy seizing government properties in Paris, says Centre #IndiaNEWS
The Narendra Modi-led administration on Thursday said that it has not received any “notice, order or communication� from any French court about Scottish oil company Cairn Energy’s seizure of the Indian government’s properties in Paris.The clarification came after the Financial Times reported that a French court had seized the Indian government’s properties in Paris in connection with a tax dispute case. The newspaper reported that a court in France had authorised the freeze on the India-owned assets.The oil company’s move was its latest attempt to get India to pay .7 billion [approximately Rs 12,695 crore] in the tax dispute case, according to the newspaper.In December, a three-member international arbitration tribunal had ruled that the Indian government had violated the “guarantee of fair and equitable treatment�, going against the bilateral treaty between India and the United Kingdom. The breach had resulted in losses for the Scottish oil company.The tribunal had then ordered India to pay .2 billion (over Rs 8,715 crore) in damages along with other costs to Cairn Energy.Cairn Energy had moved courts in nine countries to enforce its .4 billion (Rs 10,247 crore) arbitration award against India. This has been recognised and confirmed by five courts in the United States, the United Kingdom, the Netherlands, Canada and France.Due to the...Read more

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