Tatas to stop paying dues to AirAsia if airline fails to invest in JV by December 31
New Delhi: Tata Group will stop payment of dues by AirAsia India to its Malaysian parent if the latter does not provide funding to their low-cost airline joint venture before December 31.
The Indian conglomerate will also start deducting the dues and setting them off against equity shares in the budget airline if its JV partner is unable to bring in funds by subscribing to a rights offer of at least ₹300 crore, according to recently added clauses in the shareholder agreement seen by ET.
