Indian Assets to be frozen in Paris by Cairn.

A French court, Tribunal judiciaire de Paris passed a ruling based on Cairn Energy’s application to freeze assets of the Indian Government in Paris. Around 20 properties of the government, valued at more than 20 million Euros will get affected by this ruling. 

Cairn Energy is a Public Limited British Company that existed in India a few years ago, but has been in a long-standing tax dispute with the Indian Government over withdrawal of an appeal by the government against an International Tribunal’s award.