'Not Got Order From Any French Court': India On Cairn 'Seizing' 20 Assets
NDTV
A French court froze residential real estate belonging to the Indian government, Cairn said in a statement Thursday.
Cairn Energy says it has received a court's approval to seize Indian government properties in Paris as part of its attempts to recover a $1.2 billion arbitration award it won last year. The government, however, says it has "not received any such order from any French court" and will take legal remedies to protect the interests of India. A French court froze residential real estate belonging to the Indian government, Cairn said in a statement Thursday. Twenty centrally located properties worth more than $24 million will be taken over. The Finance Ministry said it would take "appropriate legal remedies" if it received such an order. "Government is trying to ascertain the facts, and whenever such an order is received, appropriate legal remedies will be taken, in consultation with its Counsels, to protect the interests of India," the ministry said.
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