Industry

Centre sees no impact to Air India sale from Cairn suit

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The government doesn't see the disinvestment process for Air India being hit by the suit filed by Cairn Energy against the national carrier in the U.S., a senior government official said.

"[There is] no likely impact on the disinvestment process," the official said, speaking on the condition of anonymity.

 

He added that Air India would deal with the suit legally when it receives a court notice, noting that the Department of Revenue was overseeing the Cairn case.

Cairn has filed a lawsuit in the U.S. against Air India to enforce the $1.2-billion arbitration award it won against the Indian government in a long-standing tax dispute.

After inviting preliminary bids for 100% stake sale in Air India, the government has moved to the financial bid stage. The Tata Group is among the "multiple" entities which had submitted preliminary bids for the flag carrier's privatisation.


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Printable version | Jun 22, 2021 5:29:49 PM | https://www.thehindu.com/business/Industry/centre-sees-no-impact-to-air-india-sale-from-cairn-suit/article34580248.ece

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