PremiumThe Central Government on Thursday said that it has "not received any notice, order or communication from any French court" regarding approval to Britain's Cairn Energy Plc to seize 20 state-owned properties in Paris.
The Centre said that it is trying to ascertain the facts, and whenever such an order is received, appropriate legal remedies will be taken, in consultation with its counsels, to protect the interests of India.
"Government is trying to ascertain the facts, and whenever such an order is received, appropriate legal remedies will be taken, in consultation with its Counsels, to protect the interests of India," the Finance Ministry said in a statement.
The government has already filed an application on March 22 this year to set aside the December 2020 international arbitral award in The Hague Court of Appeal. The government of India will defend its case in the set-aside proceedings at The Hague, the release added.
It is also stated that the CEO and the representatives of Cairns have approached the government of India for discussions to resolve the matter. Constructive discussions have been held and the government remains open for an amicable solution to the dispute within the country's legal framework, the release said.
Cairn wins freeze on India state assets in Paris
Cairn Energy has said a Paris court had accepted its petition that Indian state-owned assets in the city worth over 20 million euros ($24 million) be frozen, claiming a significant win in its campaign to force the Indian government to pay Cairn billion-dollar damages in a protracted tax dispute.
A French tribunal ordered the freeze on some 20 centrally located properties belonging to the Indian government as part of a guarantee of the amount owed to Cairn, the London-listed firm said.
Cairn said it has also registered similar claims against India in courts in the United States, Britain, the Netherlands, Singapore and Quebec.
"This is the necessary preparatory step to taking ownership of the properties and ensures that the proceeds of any sales would be due to Cairn," the firm said.
Cairn, which has oil and gas operations in India, was awarded damages of more than $1.2 billion, plus interest and costs, in December by the Permanent Court of Arbitration at The Hague in a long drawn-out tussle with the Indian government over certain retrospective tax claims. Cairn says it is now owed $1.7 billion in total.
While New Delhi has filed an appeal against the damages ruling, Cairn has identified Indian assets overseas, including assets of national carrier Air India that the energy firm says could be seized in the absence of a settlement.
"Our strong preference remains an agreed, amicable settlement with the government of India to draw this matter to a close," the company said.
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