Cairn Energy secures French court order to seize 20 Indian govt properties, says report
The Hindu
On June 11, the French court had ordered Cairn Energy’s take-over of Indian government properties.
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 , sources said on Thursday. 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. 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.
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