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Decoded: Seizing India’s foreign assets won’t be easy for Cairn Energy

UK-based Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2-billion international tribunal award in the retrospective taxation case by seizing India’s overseas assets.

Experts explain the legal intricacies of the process. What is the nature of foreign assets that could be seized in an international arbitration dispute involving a country or State? For execution of an arbitration award against a State, a line needs to be drawn between commercial and non-commercial property, says Kshama A Loya, leader, international dispute

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business standard
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