Air India sale: Cairn’s Air India lawsuit may not delay selloff plan | India Business News
“As such there is no impact on Air India privatisation. The government of India is defending the case and we are confident that it will have no impact on the disinvestment process,” the department of investment and public asset management (Dipam) official, who did not wish to be named, told TOI.
The assessment in the government is that Cairn is seeking to put pressure on the Centre to withdraw the review of the arbitration panel award. Although the government has alerted public sector companies that it is not unduly worried, sources indicated.
On privatisation, the Dipam official acknowledged that there has been some delay in the strategic sales due to the pandemic, which had hurt physical meetings.
“We had thought of winding up some transactions in the first quarter of this year but now two months have been affected due to the pandemic so that timeline is impacted,” the official said, adding that due diligence for Air India and BPCL sales were on. Both are in advanced stage of their eventual privatisation.