Cairn threatens to enforce arbitration award against India’s foreign assets
New Delhi: Cairn Energy has told India it is prepared to move towards enforcing a $1.2 billion arbitration award against India’s assets overseas, in a step to mount pressure on the government to quickly implement the judgement.
An arbitration tribunal last month ruled in favour of Cairn Energy in a six-year-old retrospective tax dispute and ordered the Indian government to pay the UK firm damages of $1.2 billion plus interest and cost.
