Govt: No impact of Cairn, Devas lawsuits on AI’S disinvestment

Air India is a separate corporate entity with its own management and board so there is “no likely impact” on its ongoing disinvestment process due to the lawsuits filed by Cairn Energy and Devas Multimedia in the US court, Minister of State for Civil Aviation V K Singh said on Thursday. Cairn Energy and Devas Multimedia, respectively, are seeking $1.725 billion and $1.2 billion — which they won in international arbitrations — from India. “Cairn Energy and Devas Multimedia have filed lawsuits in the United States District Court for Southern District of New York seeking declaratory and money judgement against Air India Limited as an alter ego of the Republic of India,” Singh said in a written reply to a question in Lok Sabha.