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Cairn Energy secures French court order to seize 20 Indian government properties: Report – Times of India

NEW DELHI: Britain’s Cairn Energy Plc has secured a French court order to seize about 20 Indian government properties in France to recover a part of $1.7 billion arbitration award, sources said on Thursday.
On June 11, the French court had ordered Cairn Energy’s take-over of Indian government properties, mostly comprising flat; and the legal process got completed on Wednesday evening.
An arbitration panel had in December ordered the Indian government to return $1.2 billion plus interest and penalty to Cairn Energy after reversing a retrospective tax demand.
With Indian government not honouring the award, Cairn Energy has moved in multiple jurisdictions overseas to recover the amount due by seizing Indian government assets.