Indian government on Thursday said it has not received any notice or order from any French court after Cairn Energy said it has won an order from French court to seize Indian state-owned properties in Paris.
The order, according to Cairn, is part of the company’s attempt to recover a $1.2 billion arbitration award it won last year in a tax dispute.
A French court froze residential real estate belonging to the Indian government, Cairn said in a statement Thursday. The order affects 20 properties valued at more than $24 million, it said.
“There have been news reports that Cairn Energy has seized frozen State owned property of Government of India in Paris. However, Govt. of India has not received any notice , order or communication , in this regard, from any French Court,” the ministry of finance said.
“We are 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,” it said.
India has already filed an application on March 22 to set aside the December 2020 international arbitral award in The Hague Court of Appeal.
India will vigorously defend its case in set aside proceedings at The Hague, the government said.
It is also stated that the CEO and the representatives of Cairns have approached the India government for discussions to resolve the matter.
“Constructive discussions have been held and the we remain open for an amicable solution to the dispute within the country’s legal framework,” the ministry of finance further said.
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