“This decision helps to clarify our position with the investors,” said Tarun Bajaj, revenue secretary at the finance ministry, channel, adding it would help solve pending cases with Cairn Energy and Vodafone if they withdraw litigation and meet certain conditions.
The government’s proposed amendment in the law comes after a French tribunal last month ordered a freeze on some 20 centrally located properties belonging to the Indian government as part of a guarantee of the amount owed to Cairn.