New Delhi: UK's Cairn Energy is targeting assets abroad of more state-run companies in a bid to recover dues from the government on the backdrop of the arbitration victory of the company over the Indian government. According to people in the know, the British energy major may file lawsuits across several countries to make government firms and banks liable to pay the dues.
Cairn Energy already moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $ 1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand.
Read: Signalling strategic intent, Jaishankar in Greek outreach
