{"id":414321,"date":"2021-05-11T10:02:21","date_gmt":"2021-05-11T04:32:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=414321"},"modified":"2021-05-11T10:35:48","modified_gmt":"2021-05-11T05:05:48","slug":"govt-asks-banks-to-be-on-alert-as-cairn-move-looms","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/govt-asks-banks-to-be-on-alert-as-cairn-move-looms\/","title":{"rendered":"Govt asks banks to be on alert as Cairn move looms"},"content":{"rendered":"<p>The government has told state-run banks to report any notification on the seizure of assets, worried about the wider fallout of an international court\u2019s order for India to pay $1.2 billion in damages to Cairn Energy. <\/p>\n<p>The effort is to try and stop any asset seizure by companies invoking bilateral investment protection treaties (BITs) as it could lead to a \u201cdamaging precedent&#8221;, said a person privy to the development. <\/p>\n<p>India asserts that damages cannot be sought under these treaties on tax matters, which are a sovereign function.<\/p>\n<p>In February, the US District Court for Columbia issued a notice to the Indian government on a petition filed by Cairn Energy Plc and Cairn UK Holdings Ltd for enforcement of the arbitral award, court documents showed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has told state-run banks to report any notification on the seizure of assets, worried about the wider fallout of an international court\u2019s order for India to pay $1.2 billion in damages to Cairn Energy. The effort is to try and stop any asset seizure by companies invoking bilateral investment protection treaties (BITs) as it could lead to a \u201cdamaging precedent&#8221;, said a person privy to the development. India asserts that damages cannot be sought under these treaties on tax matters, which are a sovereign function. In February, the US District Court for Columbia issued a notice to the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-414321","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=414321"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/414321\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=414321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=414321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=414321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}