Cairn identifies $70 bn Indian assets for seizing to recover amount due from govt

"The Indian government naturally will challenge such seizure but to save the assets it may have to pawn money equivalent to the value of assets in some financial security such as bank guarantee. The court will return such a guarantee to India if it does not find merit in Cairn's case. But the surety will be passed on to Cairn if the court finds that India had failed to honour its obligation," a source said.

from Energy-Industry-Economic Times https://ift.tt/3uRlimT