Cairn Energy will seize 20 properties of the Government of India in France, the court ordered

New Delhi, July 8, 2021

Britain's Cairn Energy has sought the seizure of 20 Indian government properties in France from a French court seeking 1. 1.7 billion in damages.

According to sources, the order was passed by a French court to Cairn Energy on June 11. Most of the properties are flat and legal proceedings were completed on Wednesday.

The International Arbitration Court last December ordered the Indian government to pay Cairn Energy more than 2 1.2 billion in interest and compensation. The Indian government did not accept the order. Cairn Energy has now appealed to foreign courts to recover the amount by seizing Indian government assets. .

Cairn Energy is scrambling to get money from the government and has identified ની 70 billion worth of Indian government property abroad. Cairn Energy has filed lawsuits against the Indian government in many countries around the world, but experts believe that according to a French court order, The Government of India will have to challenge the confiscation of the property in a court of law. The Government of India will have to give a bank guarantee to Cairn Energy until the appeal is decided. If Cairn Energy wins in court, the company will receive the amount.