Cairn energy gets permission from French court to seize 20 Indian government assets
Image Credit: Business Standard
In a setback for the Indian government, Britain's Cairn Energy has been successful in securing an order by a French court to seize about 20 Indian government properties in France to recover a part of the $1.7 billion arbitration award. The assets belonging to India include several properties including flats. The Indian government had been ordered in December to return $ 1.2 billion plus interest and penalty to Cairn Energy.