Cairn Energy acknowledges receipt of notice on petition filed by Indian government

Cairn Energy said it has received a notice on the petition filed by the Indian government that appeals to the Dutch Court of Appeal to set aside the court’s December 21, 2020, arbitration award.

The company has full confidence on its position and “as previously advised, Cairn will continue to take all steps necessary to protect the interests of its shareholders”, Cairn said.

The firm has moved courts in nine countries to get the arbitral award registered and recognised. Once the court recognises an arbitration award, the company can petition it to seize any Indian government asset such as bank accounts, payments to state-owned entities, aeroplanes and ships in those jurisdictions, to recover the amount due to it.