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The Government of India has strongly condemned the false reporting in certain media by some vested interests claiming that the Government of India has purportedly asked state-owned banks to withdraw funds from foreign currency accounts abroad in anticipation of the potential seizure of such accounts
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FAQ :
The Government of India has condemned false reporting in certain media outlets that claimed it asked state-owned banks to withdraw funds from foreign currency accounts abroad in anticipation of seizure related to the Cairn legal dispute.
India is vigorously defending its case and is committed to pursuing all legal avenues to resolve the dispute worldwide. They have filed an application to set aside the international arbitral award.
India argues the award was flawed because the tribunal improperly exercised jurisdiction over a national tax dispute, the claims were based on an abusive tax avoidance scheme violating Indian tax laws, and the award ratified Cairn's scheme for Double Non-Taxation, a significant public policy concern.
Yes, the CEO and representatives of Cairn have approached the Government of India for discussions, and constructive talks have been held. India remains open to an amicable solution within the country's legal framework.
No, the Government of India has stated these reports are totally incorrect and not based on true facts, suggesting they were orchestrated by vested parties.
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