After Air India, Cairn to target more state cos to recover money due from govt
NEW DELHI: After Air India, Britain’s Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes.
A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the USD 1.2 billion plus interest and penalties that are due from the Indian government.
