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Rational Expectations: Risking seizure of assets is a bad idea Sunil Jain © Provided by The Financial Express In which case, the only hope India has of getting the ruling reversed in the review is if it can prove mala fide in the award, and that is not going to be easy. It is not clear what India s strategy is going to be when the UK-based Cairn Energy s CEO Simon Thomson comes calling on finance minister Nirmala Sitharaman later this week, but if it is the same as the one adopted in the Vodafone case-that is, to ask for a review of the award-it is a really bad idea. Apart from the signal it sends to global investors, and the fact that unlike the Vodafone case where a retrospective tax demand was also made, the taxman actually seized $1.4bn of Cairn s assets (bit.ly/3digPDv), there is little chance of India winning the review.

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