India undeterred by Cairn, will defend stand in arbitration row: Sources

India is in the process of filing an appeal at The Hague over the $1.4 billion arbitration award, sources tell Business Standard.

India is confident that it can strongly defend its interests if Cairn Energy starts proceedings to enforce a $1.4 billion arbitration award it has won against the country, said official sources on Wednesday, reacting after the company told New Delhi it is identifying for seizure assets belonging to the Indian government in 160 countries.

India is in the process of filing an appeal at The Hague over the $1.4 billion arbitration award.

“Cairn set up a tax abusive structure and did not pay taxes anywhere in the world on the gains that it made in India. In the said case,