Centre trashes reports of forex withdrawal from PSBs to dodge Cairn seizure

The govt says it is vigorously defending its case in the dispute but remains open to an amicable solution within the country's legal framework

The government has not asked any state-owned banks to withdraw funds from foreign currency accounts abroad in anticipation of the potential seizure with regard to the Cairn legal dispute, the Ministry of Finance clarified on Sunday.

"Government of India is vigorously defending its case in this legal dispute. It is a fact that the government has filed an application on March 22, 2021 to set aside the highly flawed December 2020 international arbitral award in The Hague Court of Appeal," it said.

The government further said it is committed to pursuing all legal avenues to defend its case in this