Cairn has not shared list of assets to be attached: Centre

NEW DELHI: UK-based Cairn Energy Plc has not sent any list of Indian government assets it wants to attach to recover the arbitral award of $1.7 billion in the tax dispute case with India, the Minister of State, finance, Pankaj Chaudhuri, informed parliament on Monday.

The minister also said that the government has not received any proposal from Cairn to settle its tax disputes.  The minister, however, admitted that the government has received official communication on the order passed by a French court allowing Cairn to freeze certain Indian government properties to recover the $1.2 billion arbitral award.

The arbitral tribunal of the Hague had pronounced its award on December 21, 2020 in favour of Cairn Energy and Cairn UK Holdings (CUHL). It has asked India to pay Cairn an award amount of $1,232.8 million plus interest and $22.38 million towards arbitration and legal costs. Recently, a French court had allowed Cairn to seize 20 properties of Indian government in Paris.