Financial bids for Air India expected by mid-Sept: Govt
NEW DELHI: While financial bids for Air India (AI) are expected by mid-September, the government does not foresee some foreign mega corporations suing AI to recover arbitration awards they have won against India to hamper the divestment of the airline.
Recently, British oil firm Cairn Energy and Devas Multimedia sued Air India in order to recover arbitration awards they had won against the government. Devas petition filed in a New York court says AI is the “alter ego of India” and “therefore jointly and severally liable for the debts and obligations of India itself”.
In a reply to a Parliamentary question on whether these suits could affect AI’s divestment, Union minister for state for aviationV K Singh, said on Thursday:
