Britain’s Cairn Energy Plc has secured a French court order to seize about 20 Indian government properties in France to recover a part of the $1.7 billion arbitration award.
On June 11, the French court had ordered Cairn Energy’s take-over of Indian government properties, mostly comprising flat; and the legal process got completed on Wednesday evening.
An arbitration panel had in December ordered the Indian government to return $1.2 billion-plus interest and penalty to Cairn Energy after reversing a retrospective tax demand.