Air India Disinvestment Updates: The government has rubbished the news of the acceptance of Tata Sons’ bid to buy the debt-ridden state-run airline Air India. In fact, according to a Bloomberg report, Tata Sons has won the bid for Air India. The report claimed that a group of ministers has agreed to the Tata group’s take-over proposal.
However, the government has clarified on Friday that the media reports about this are wrong, nothing has been decided yet. Whenever there is some decision regarding this, information will be given to the media.
Air India in huge loss but no shortage of assets
In fact, according to PTI, Tata Sons has emerged as the top bidder for the acquisition of Air India, but sources said the bid has not yet been approved by the Group of Ministers (GoM) headed by Home Minister Amit Shah.
Sources in the know said that the financial bids of Tata Sons and SpiceJet Ltd promoter Ajay Singh were opened a few days back and were scrutinized by the main group of secretaries on disinvestment headed by the cabinet secretary on Wednesday.
Air India Disinvestment Updates: Air India will return to Tata Sons after 58 years, the company won the bid
Sources said the bids were evaluated against the reserve price and it was found that Tata’s bid was the highest. He said it would now be placed before the Shah-led Group of Ministers set up to privatize Air India.
The finance ministry and Tata Sons declined to comment. Meanwhile, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said in a tweet that the government has not yet approved the financial bids for Air India.
He tweeted that the media reports approving the financial bids by the Government of India in the Air India disinvestment case are false. The media will be informed about the government’s decision. Let us tell you that DIPAM comes under the Ministry of Finance.
It was the dream of the Tata group to regain Air India, which can now be fulfilled. If Tata Sons’ bid is accepted, it will take over the national aircraft carrier it founded.
The airline was founded in 1932 by Jahangir Ratanji Dadabhai (JRD) Tata. At that time this airline was called Tata Airlines. Air India was nationalized in 1953. However, despite going into the hands of the government, the chairman of the company remained JRD Tata.
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