High stakes, higher risks
Cairn has offered to invest the entire financial award in India, providing that the government relents on the appeal it filed in March. This would include the principal amount of $1.2 billion, plus interest of $500 million.
Although this is a significant sum, Indian government officials have made it clear that the government will not accept this offer. But the government is open to a settlement on different terms.
“There is no way that the government is going to accept the proposal. We have filed an appeal. Any solution will be within the legal framework,” one government official told the press.
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