New Delhi: Scottish energy company Cairn Energy has attached several Indian properties in Paris. After a tax dispute with the Indian government, an arbitrage court asked the Indian government to pay $1.7 billion in damages. But the Indian government denied this. According to the news, during the trial in the US court, Cairn had sought an order to confiscate the overseas assets of Air India. He said that since Air India is a Government of India company, its assets can be confiscated. Meanwhile, official sources in the Government of India have said that the government has not received any information about this. The government is ascertaining the facts. Legal action will be taken as soon as the formal notification of this decision is received from the French court.
According to the news, Cairn Energy will transfer the ownership of these properties worth 20 million euros. The process has already started after the French court ordered the seizure. Earlier, Cairn Energy had said that following a court order, it has identified $70 billion worth of Indian assets abroad that are to be confiscated. This price is inclusive of interest and penalty. Reports said that the Cairn Energy Government of India properties that have been identified for confiscation include Air India aircraft and Shipping Corporation India ships.
