Air India

The Tatas' subsidiary quoted Rs 18,000 crore of enterprise value for Air India, Divestment Secretary Tuhin Kanta Pandey announced. There were only two bidders in the final stage of divestment. Besides, the Tatas' subsidiary, the second bidding entity was a consortium led by industrialist Ajay Singh.

According to an airline official, older aircraft are generally sold-off to scrap dealers who salvage metals out of the hull. Besides, the transportation by road is the responsibility of the new buyer and the airline has no connection with the incident, the official said. Besides, the transportation by road is the responsibility of the new buyer and the airline has no connection with the incident, the official said.

Besides, conglomerate Tata Sons, which is one of the bidders, is touted to be the frontrunner to get hold of the carrier. Earlier, Tata Sons backed SPV and industrialist Ajay Singh, in his personal capacity had sent in their financial bids. Accordingly, sources said that the two bids are being scrutinised against a reserve price set for the airline.

Accordingly, employees staying in company accommodations in different housing establishments will have to vacate or face strict penal action or heavy monitory penalty with disciplinary action. The decision, according to the employees, comes as a rude shock, especially in metro cities like Delhi or Mumbai, where housing rentals are "sky-high".

Sources indicated that tentatively October 15 has been kept the date for announcing the winning bid for Air India while the financial bids received for the carrier may be opened anytime this week. Centre on September 15 received multiple financial bids for divestment of Air India. Accordingly, Tata Sons and industrialist Ajay Singh in his personal capacity are believed to have submitted financial bids for Air India.

He will succeed Pradeep Singh Kharola, who retires this month-end. A statement from the Appointments Committee of the Cabinet said: "Rajiv Bansal (IAS:1988:NL) appointed as Secretary, Ministry of Civil Aviation." "He replaces Pradeep Singh Kharola (IAS:1985:KN) who will be retiring this month-end. Presently, Bansal is working as CMD, Air India."

"Tatas have submitted a financial bid for Air India," a Tata Sons spokesperson said. Taking to Twitter, DIPAM Secretary, Tuhin Kanta Pandey said that the disinvestment process now moves to the concluding stage. "Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," he posted.

The Central Board of Direct Taxes (CDBT) has come up with a set of notifications, announcing the decision. One notification from the said that Air India Assets Holding Ltd shall not be considered as 'buyer' for the purpose of sub-section (1) of section 194Q of the said Act in case of transfer of goods by Air India Ltd to it.

Tuhin Kant Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM) on Wednesday said that the government aims to complete the privatization of public carrier Air India, state-owned refiner Bharat Petroleum Corporation Limited (BPCL) and other identified companies during the current fiscal year.

V.K. Singh said a total of 3,523 employees of the national carrier have been affected by Covid-19. "Out of this, 56 employees succumbed to the pandemic, till 14th July, 2021." Air India has introduced various measures to safeguard the interests of the employees and their families affected due to the Covid-19 including quarantine leave (Paid Leave) of 17 days to employees who are affected by Covid-19.