Cairn Energy sues Air India in US court to recover $1.2 billion arbitration award against India

British oil firm Cairn Energy has sued Air India in a US court in order to recover an arbitration award worth over $1.2 billion that it won against India last December.

Cairn Energy has moved a US court suing Air India in order to enforce a $1.2 billion arbitration award that it won against India in a tax dispute case. Ever since the arbitration award, Cairn Energy was identifying Indian assets abroad to get the award enforced. These assets included Air India, cash held by state-run banks abroad and ships.