UK-based Cairn Energy plc said after three days of talks with top officials of the finance ministry that it hoped for a amicable settlement on the $ 1.4 billion arbitration decision, but also insisted that it protect the interests of shareholders Will continue to take steps.
An international arbitration tribunal in its ruling has asked the Indian government to pay $ 1.4 billion to make up for the loss to Cairn.. Cairn CEO Simon Thomson held discussions between February 18 and February 20 with over half-a-dozen other senior officials, including Finance Secretary Ajay Bhushan Pandey and CBDT chairman, to seize assets overseas to secure damages to the company. Like don’t have to take extreme steps. The company said that the discussions in Delhi with Finance Ministry officials were cordial and constructive.
The Edinburgh-based company wrote to the Indian government last month that if the government fails to pay $ 1.4 billion after losing a lawsuit on taxes levied from the earlier date, the company may be forced to seize the assets of the Indian government. Can. Cairn said, “We hope that an acceptable solution can be reached, so that all sides can avoid further prolonging this negative issue.” However, we have also made it clear that we will take all necessary steps to protect the interests of our shareholders.
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