Sunday, May 29, 2022

ਵਾਹਿਗੁਰੂ

spot_img





Air India’s control to be handed over, Tata Group Chairman in Delhi

New Delhi, Jan 27, 2022 – The management control of national carrier Air India is set to be handed over to a subsidiary of Tata Sons.

According to highly placed sources, the Chairman of Tata Group N. Chandrasekaran is in national capital to meet key Central government officials before the formal handing over ceremony.

Notably, the process would entail constitution of a new Air India Board with Tata nominees.

Earlier this week, in a communication to the airlines employees, a senior Air India official wrote: “The disinvestment of Air India is now decided to be on January 27, 2022.

“The closing balance sheet as on January 20 has to be provided today, i.e., January 24, so that it can be reviewed by Tatas and any changes can be effected on Wednesday.”

The communication, which was reviewed by IANS, was sent to the employees by Director of Finance, Vinod Hejmadi.

The communication further read: “The next three days will be hectic for our department and I request all of you to give your best in these last three-four days before we get divested. We may have to work till late in the night to complete the task given to us.”

Last month, the Competition Commission of India approved the acquisition of Air India, Air India Express and Air India SATS Airport Services by Talace, which is a wholly-owned subsidiary of Tata Sons.

The acquisition envisaged 100 per cent equity share capital of Air India and Air India Express, and 50 per cent for that of Air India SATS Airport Services by Talace.

The airline, along with AIXL, is primarily engaged in the business of providing domestic and international scheduled air passenger transport service, along with air cargo transport service.

Air India SATS Airport Services is engaged in the business of providing ground handling services at Delhi, Bengaluru, Hyderabad, Mangaluru and Thiruvananthapuram airports, and cargo handling services at Bengaluru airport.

Tata Sons’ subsidiary Talace had emerged as the highest bidder for the national carrier under the divestment process.

It had quoted an enterprise value of Rs 18,000 crore for 100 per cent equity shareholding of the Centre in Air India along with that of Air India Express and AISATS.

On its part, the Centre had stipulated a reserve price of Rs 12,906 crore.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,323FansLike
114,291FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Kashmir and the sin of silence – by Deepika Bhan

Two days after Rahul Bhat was killed in a government office in Jammu and Kashmir on May 12, the building was reopened and all...

Who is responsible for bad condition of GHPS Schools run by DSGMC – by Inder Mohan Singh

Guru Harkrishan Public School Society was formed by the Delhi Sikh Gurdwara Management Committee (DSGMC) under the Societies Registration Act 1860 in the year...

How to Install Bootstrap in Angular

Bootstrap is accountable for creating mobile-first applications. It is used to style something during web development. Installing Bootstrap in Angular is easy but it...

SPORTS

Health & Fitness

Disturbed sleep, menstrual cramps top hygiene concerns for women during periods: Survey

New Delhi, May 27, 2022- According to a survey, the top menstrual hygiene concerns for women during their periods are disturbed sleep, menstrual cramps and dirty public toilets. Out of the total number of women surveyed, more than half or 53.2 per cent, said they do not have sound sleep during the first two days of their periods. The survey revealed...

Gadgets & Tech