INSUBCONTINENT EXCLUSIVE:
This is the central government's second attempt at disinvesting its stake in Air IndiaThe first process of proposed strategic
disinvestment of Air India has been completed and the Union Civil Ministry is heading towards the second process that will begin with the
announcement of names of qualified bidders on January 5, 2021, an official said on Tuesday
Pradeep Singh Kharola, Secretary, Civil Aviation Ministry while addressing a press conference said the two processes of the strategic
disinvestment of Air India include -- submission of ''Expression of Interest'', which was completed on December 14, and the second process
''Request for Proposal''."The strategic disinvestment of Air India is a transparent two-step process
The first process is the submission of ''Expression of Interest'', which is bidders showing interest in Air India
It is a confidential process and as of now, multiple ''Expression of Interest'' have been received
Their scrutiny process is going on
It will be completed by January 5 and we will have eligible bidders," Kharola said."In the next step, eligible bidders will be asked for
''Request for proposal'' which is nothing but financial information of bidders
We are heading towards the second stage and the first stage is completed," he added
Union Civil Aviation Minister Hardeep Singh Puri said that the Department of Investment and Public Asset Management, which comes under the
Union Finance Ministry "will indicate about the bidders after examining ''Expression of Interest'' on January 5.""The bidders who will be
shortlisted after the due criteria will be given time of 90 days to get full information and we will also check their files," he added
This is the central government's second attempt at disinvesting its stake in Air India
In 2018, not a single bid was received for the disinvestment of Air India.This time, the government has proposed strategic disinvestment of
100 per cent of its equity share capital in Air India Limited, which includes Air India''s shareholding interest of 100 per cent in Air
