Read that one some time back. Looks like somebody played a major scam.
If the Indian Govt makes a stink, it will come home. However, if it doesn't get that far (and depending on who got paid off in the first place, it may not) then, as they say, "Possession is 9/10ths of the law".
Being an airplane, the owners could always ignore whatever govt decision is made and fly to another country. Make it a nightmare to try to get back.