InvestorQ : What is the government stand on Cairn threatening to attach Indian assets?
swati Bakhda made post

What is the government stand on Cairn threatening to attach Indian assets?

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Sam Eswaran answered.
3 weeks ago
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Finance Ministry has reiterated its stand on the Cairn $1.2 billion international arbitration award as being flawed. Finance Ministry affirmed that Cairn had indulged in flagrant tax avoidance and the Indo-UK award would not apply. That was the basis of the arbitral award. Indian government remains open to an amicable settlement with Cairn but has refuted reports in the press that it had instructed withdrawal of dollar funds from PSU banks.

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