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Business Tit-Bits: Cairn Gets Coercive

Britain’s Cairn Energy Plc has secured an order from a French court authorising the freezing of 20 Indian government properties in Paris valued at over 20 million euros, the London-based Financial Times reported Thursday. This is the first court order secured against India to enforce a $1.2-billion arbitration award that Cairn Energy had won against the Indian government in the retrospective tax dispute. On Thursday, the Finance Ministry said it had not received any communication in this regard from any French court, and that it was trying to ascertain the facts. In this episode of the Business tit-bits our Business Editor Mr Akhilesh Bhargava shares his take on the matter.

#CairnEnergy #IndianGovt #FinanceMinistry

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