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India to defend its interests if Cairn moves to enforce arbitration award: Sources SECTIONS Share Synopsis Cairn Energy said on Tuesday that it had identified Indian assets in overseas jurisdictions which it can seize if India does not pay up the damages as spelt out by the award. It pegged the total due from the Indian government at $1.7 billion by the year-end. “India is well within its sovereign powers to redress the situation of double non-taxation and tax abuse,” the source added. India will strongly defend its interests if Cairn Energy were to initiate enforcement proceedings, said ...

Cairn arbitration award: India in process of filing appeal, say reports Photo: BloombergPremium . Updated: 10 Mar 2021, 08:52 PM IST PTI If enforcement proceedings are initiated, India is confident to address them and will strongly defend its interests, the reports said, adding it is open to a constructive settlement of tax disputes within the existing legal framework Share Via Read Full Story NEW DELHI : India is in the process of filing an appeal against an arbitration panel asking it to return $1.2 billion to British oil firm Cairn Energy Plc, sources said on Wednesday. If enforcement pr...

* Cairn sells stakes in UK fields Kraken, Catcher for $460 mln

British oil firm Cairn Energy Plc on Tuesday said it has identified Indian sovereign assets overseas, which it can seize in the event of New Delhi failing to return over USD 1.7 billion that an international arbitration tribunal has ordered after rescinding a retrospective tax demand. "Cairn is extremely confident that satisfaction of the award will be achieved either by negotiated settlement or by enforcement against Indian assets," the firm said in its 2020 annual earnings statement. The firm has moved courts in nine countries to get the arbitral award registered and recognised. "The tr...

Cairn Energy to sell interests in North Sea oil fields for $460m Cairn will sell its entire 20 per cent interest in the Catcher field and 29.5 per cent interest in the Kraken field. (Getty Images) Cairn Energy has agreed to sell its interests in the UK Catcher and Kraken oil fields in the North Sea. Waldorf Production Ltd will acquire the interests for $460m in cash, the company said on Tuesday.