Jay Newman, Senior Advisor to Devas Shareholders, on Wednesday reacted to news out of India that the government will absolve financial bidders of Air India from any liability that may arise from ongoing arbitration disputes, including those with Cairn Energy and Devas shareholders who also targeted Air India’s assets.
On Twitter, Newman called the government’s move “opaque” and warned that investors will “never know where they stand” in an uneven playing field, should ministers approve the sale purchase agreement.
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