Responding to reports that Cairn has identified substantial Indian assets for attachment, informed sources in the government told FE that the Centre is yet to receive any formal notice of any such claims and “hence these reports are purely in the realm of speculation.”
“The government is well aware of its legal rights and will defend its case in courts should such proceedings materialize. It is equally confident of winning its appeal in The Hague,” a government source said. Sources said Cairn did not pay a single rupee tax anywhere in the world in respect of the impugned transactions. Cairn had also lost its appeal before the Income-tax Tribunal, they pointed out.
