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Expect to meet Sitharaman on arbitration award next week, says Cairn CEO

Cairn Energy Plc CEO Simon Thomson has said he expects to meet Finance Minister Nirmala Sitharaman next week in an attempt to get India to swiftly honour a $1.4 billion tax verdict. Last month, the Edinburg-based firm had written to the government saying it would be forced to seize Indian government assets if New Delhi fails to pay it $1.4 billion after losing a bitter dispute over retrospective taxes. Cairn Energy CEO Simon Thomson is looking forward to meeting the Government of India Finance Minister in Delhi next week, the company tweeted with a video of the chief executive urging a swift honour of the tax verdict.

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Nirmala Sitharaman: Cairn CEO wants to see FM Sitharaman on arbitration award next week; no time given yet

This is yet another attempt by Cairn to mount pressure on the government to honour the award. Last month, Cairn wrote to the Indian government, seeking clarity on this ahead of the company s earnings release on March 9. In its letter, the company also warned that it had put in place necessary preparations to enforce the award against Indian assets overseas.

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