After three days of talks with top finance ministry officials, UK’s Cairn Energy plc on Sunday said it is hopeful of reaching an amicable resolution on $1.4 billion that an arbitration award has ordered India to return, but insisted it will continue to take steps to protect shareholder interest.
Cairn CEO Simon Thomson held discussions with Finance Secretary Ajay Bhushan Pandey and over half a dozen other senior officials including CBDT Chairman between February 18 and 20 in an attempt to find a resolution to the issue without having to resort to extreme step of seizing Indian assets overseas to recover the money the firm has been awarded.