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Explained: Why Cairn Energy is moving to seize Indian assets Explained: Why Cairn Energy is moving to seize Indian assets UK-based oil major Cairn Energy is taking swift steps to seize India s foreign assets. The company recently won a $1.4 billion arbitration award against India. Here is all you need to know. advertisement UPDATED: May 17, 2021 16:20 IST The dispute dates back to 2015 when the Indian government sent a notice to Cairn Energy Plc regarding a retrospective tax demand. (Photo: Reuters) The dispute dates back to 2015 when the Indian government sent a notice to Cairn Energy Plc regarding a retrospective tax demand. Five years later, on December 21, 2020, India was ordered to return up to $1.4 billion (with interest) to the UK company after an international arbitration overturned India s retrospective tax demand. ....