Faced with lawsuits filed by Cairn Energy and investors of Devas Multimedia — both seeking to recover their dues from the Indian government by attempting to seize Air India’s overseas assets — the government has lined up a two-pronged approach.
First, the Centre has assembled a team of lawyers and legal consultants to challenge the premise that Air India is an “alter-ego” of the Government of India. Second, it is preparing a list of the airline’s overseas assets that could face potential seizure from the lawsuits and could even pose a risk to the carrier’s disinvestment process, top government officials and Air India executives said.