CAIRN ENERGY SUES AIR INDIA FOR AWARD WON AGAINST GOVT

HT Correspondent & Reuters

MUMBAI/NEW YORK: Cairn Energy has sued India’s flagship carrier Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India, according to a US District Court filing reviewed by Reuters. The move ratchets up pressure on Indian government to pay the sum of $1.2 billion plus interest and costs that the British firm Cairn was awarded by an arbitration tribunal in December.