Cairn suit won’t hit AI sale: Minister

The government today said the divestment of Air India is not likely to be affected by the legal actions initiated by Cairn and Devas overseas and it is expected that financial bids for 100% sale of government in the national carrier will be received by mid-September.

Minister of State for Civil Aviation Gen (retd) VK Singh said with the disinvestment process, the movable assets are proposed to be transferred to the new owner while immovable assets are being monetised to offset the debt.