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Air India's planes to vessels belonging to the&nbsp;Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs&nbsp;are all potential assets Cairn is eyes to recover it's $1.2 billion arbitration award.&nbsp;
PTI reports that assets are across several jurisdictions are being identified for potential seizure by energy giant Cairn to collect it's dues&nbsp;from the Indian&nbsp;government.
Cairn on filed a lawsuit in a New York court to get Air India recognised as the alter ego of India and that "it should be held jointly and severally responsible for India's debts, including from any judgment resulting from recognition of the award". If the court ruling sides with Cairn then&nbsp;it can seek seizure of assets in the US such as airplanes, immovable assets and bank accounts to recover the amount it was awarded by the arbitration tribunal.
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What all could Cairn seize to recover $1.2 billion from the Indian government?

Ships, planes, bank accounts to property, Cairn draws up a list of potential assets to seize to recover it's $1.2 bn arbitration award from the Indian government.&nbsp;

<ul>
<li>Air India plans, SCI ships, property owned by PSUs&nbsp;on Cairn watchlist</li>
<li>Cairn draws up list of assets for potential seizures to recover $1.2 bn</li>
<li>Cairn filed lawsuit to attach Air India assets to recover award</li>
<li>New York court still to rule on Air India asset attachment</li>
<li>Indian govt likely to challenge arbitration awarded to Cairn&nbsp;</li>
</ul>

Air India's planes to vessels belonging to the&nbsp;Shipping Corporation of India, and properties owned by state-owned banks to oil and gas cargoes of PSUs&nbsp;are all potential assets Cairn is eyes to recover it's $1.2 billion arbitration award.&nbsp;
PTI reports that assets are across several jurisdictions are being identified for potential seizure by energy giant Cairn to collect it's dues&nbsp;from the Indian&nbsp;government.
Cairn had filed a lawsuit in a New York court to get Air India recognised as the alter ego of India and that "it should be held jointly and severally responsible for India's debts, including from any judgment resulting from recognition of the award". If the court ruling sides with Cairn then&nbsp;it can seek seizure of assets in the US such as airplanes, immovable assets and bank accounts to recover the amount it was awarded by the arbitration tribunal.
&nbsp;

Govt owned banks are looking to appoint a nodal officer to safeguard their deposits that could be linked in the $1.2 bn&nbsp;arbitration award involving Cairn Energy and the Centre.&nbsp;ET reports that the govt has written a letter to public sector bank chiefs suggesting they immediately inform Sanjay Kumar, director &ndash; banking operations, if they receive &lsquo;any intimation/notice/letter&rsquo; from Cairn Energy Plc and its subsidiary Cairn UK Holdings.Reports also suggest that banks have been asked to reduce cash holdings in overseas accounts.&nbsp;

The billion dollar worry for PSU banks as legal tussle with Cairn heats up

Govt owned banks are looking to appoint a nodal officer to safeguard their deposits that could be linked in the $1.2 bn&nbsp;arbitration award involving Cairn Energy and the Centre.&nbsp;

Govt owned banks are looking to appoint a nodal officer to safeguard their deposits that could be linked in the $1.2 bn&nbsp;arbitration award involving Cairn Energy and the Centre.&nbsp; ET reports that the govt has written a letter to public sector bank chiefs suggesting they immediately inform Sanjay Kumar, director &ndash; banking operations, if they receive &lsquo;any intimation/notice/letter&rsquo; from Cairn Energy Plc and its subsidiary Cairn UK Holdings. Reports also suggest that banks have been asked to reduce cash holdings in overseas accounts.&nbsp;

tax dispute

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