Seizing Indian assets won't be easy for Cairn Energy, say experts

Experts say enforcement of the award will face a passive hurdle in Article V of the NY Convention

The UK-based oil major Cairn Energy faces a long and arduous process if it wishes to follow through on its threat of seizing Indian sovereign assets in case of non-enforcement of the international arbitration award, said experts. Hence, there is little chance of seizure, given international arbitration norms, the experts added.

In fact, some government officials said Cairn’s best chance of getting the award enforced is to approach Indian courts, which could also take years. Besides, India is set to file an appeal at The Hague and will seek a stay on enforcement in the Dutch court. Based on that, India