Sources also said that the government is yet to receive formal notice of any such claims and hence these reports are purely in the realm of speculation.
“It is equally confident of winning its appeal in The Hague,” said an informed source.
Sources further pointed out that Cairn did not pay a single rupee tax anywhere in the world in respect of the impugned transactions. Cairn had also lost its appeal before the income-tax tribunal.
As per the reports, Cairn plans to move courts in the US to Singapore for seizure of the assets in absence of Indian government’s refusal to honour an international arbitration award.
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