Cairn sues Air India to enforce $1.2bn arbitration award on retrospective tax dispute

Cairn Energy Plc., the LSE-listed leading European oil and gas exploration and development company headquartered on Edinburgh, UK, had filed a lawsuit against India's flagship carrier Air India in a bid to effectuate a $1.2 billion arbitration award which it had won on last December over a retrospective tax dispute against India, potentially jeopardizing an Indian Government move to privatize the money-draining company's assets, a US District Court filing had unveiled on Saturday.