Cairn Energy identifies Indian assets worth $70 billion in bid to recover amount due from Centre
Firstpost 1 hour ago Press Trust of India © Provided by Firstpost Cairn Energy identifies Indian assets worth $70 billion in bid to recover amount due from Centre
New Delhi: UK s Cairn Energy has identified Indian assets worth $70 billion overseas for potential seizure to collect $1.72 billion due from the Centre a move, if successful, will put India in league with Pakistan and Venezuela which faced similar enforcement action over failure to pay arbitration awards.
The assets identified range from Air India s planes to vessels belonging to the Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs, three people familiar with the matter said.
cairn energy limited Started enforcement process, Air India planes are first target
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Cairn identifies $70 bn Indian assets for seizing to recover amount due from government
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