Cairn arbitration award case: Govt gears up to stop Air India asset seizure

Seeks details from airline to assess impact on privatization

With Cairn Energy moving a US court to seize Air India’s assets, the Indian government is preparing the groundwork to contest the matter. The government has also sought details from the national carrier to gauge the development’s impact on its privatisation exercise.

The hearing of India’s appeal challenging the $1.2-billion arbitration award in favour of Cairn at The Hague is listed on September 1.

On Friday, Cairn filed a lawsuit in the US District Court for the Southern District of New York, seeking to make Air India liable for the judgment that was awarded to the UK oil and gas