UPDATE 1-Cairn wins freeze on India state assets in Paris in bid to recover tax damages [Reuters]
CAPRICORN ENERGY UNSP/ADR (CRNCY)
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Source: Reuters
Cairn wins freeze on India state assets in Paris in bid to recover tax damages By Aditi Shah , Aftab Ahmed 3 Min Read NEW DELHI (Reuters) -Cairn Energy said on Thursday a Paris court had accepted its petition that Indian state-owned assets in the city worth over 20 million euros ($24 million) be frozen, claiming a significant win in its campaign to force the Indian government to pay Cairn billion-dollar damages in a protracted tax dispute. A French tribunal ordered the freeze on some 20 centrally located properties belonging to the Indian government as part of a guarantee of the amount owed to Cairn, the London-listed firm said. Cairn said it has also registered similar claims against India in courts in the United States, Britain, the Netherlands, Singapore and Quebec. India’s government said in a statement on Thursday it had not received any communication on the issue from any French court, and that it would “take appropriate legal remedies” once it received any notice. “This is the
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