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NEW DELHI (Reuters) - India s government on Sunday denied asking its state-run banks to withdraw funds from their foreign currency accounts abroad on fears that Cairn Energy may attempt to seize the cash in a tax dispute, adding New Delhi was open to resolve the matter.
London-listed Cairn is involved in a long-drawn out tussle with the Indian government over tax claims and was awarded damages of more than $1.2 billion by an international tribunal late last year.
New Delhi has filed an appeal against the decision it calls highly flawed .
Citing government officials and a banker, Reuters and other media reported on May 6 that the finance ministry had asked state-run banks to withdraw the foreign funds on concern that courts abroad could order that assets in their jurisdiction - including bank accounts - be remitted to Cairn.