Cairn starts bid to get Indian assets
New Delhi: UK’s Cairn Energy Plc has brought a
lawsuit in the US to pierce the corporate veil between the Indian government and Air India so
as to seize its overseas assets to recover $1.7 billion it has been awarded by an international arbitration tribunal for being taxed retroactively. The firm first moved courts in
the US, UK, Canada, France, Singapore, the Netherlands and three
other countries.