After reports On Wednesday, in the International media and French region that Cairn Energy has won its first asset freeze application in Paris effectively transferring the ownership of 20 properties of the Indian government valued at over €20 million or around Rs 175-180 crore to the company, The Govt of India has refuted the reports saying it is not aware of such order and it is ascertaining the details.
The global energy firm had also sought to attach Air India’s assets in the US in May this year claiming that the latter is the “alter ego” of the Indian government.
“There have been news reports that Cairn Energy has seized/frozen State owned property of the Government of India in Paris,” the ministry said, adding that “it has not received any notice, order or communication, in this regard, from any French Court”.
The Ministry representatives added, “Government is trying to ascertain the facts, and whenever such an order is received, appropriate legal remedies will be taken, in consultation with its Counsels, to protect the interests of India.”
Cairn Energy Versus Indian Government – Tax Appeal Lawsuit
The government filed an appeal on 22 March in The Hague Court of Appeal seeking to set aside the December 2020 international arbitral award in favour of Cairn energy.
The government “will vigorously defend its case in Set Aside proceedings at The Hague”, the statement said.
The Narendra Modi government has been of the view that Cairn’s attempts to enforce the claim are illegal as the government has filed an appeal in the The Hague. It also maintains that it remains open to an “amicable solution to the dispute within the country’s legal framework”.
