Air India to be 'handed over' to Tata Group on January 27
With the government deciding to complete the disinvestment process on January 27, Air India is likely to be handed over to Tata Group by this weekend, informed a senior official on Monday.
"The disinvestment of Air India is now decided to be on the 27 January 2022. The closing balance sheet as on 20th Jan has to be provided today 24th Jan so that it can be reviewed by Tatas and any changes can be effected on Wednesday," Vinod Hejmadi, Director Finance of Air India informed employees via an email.
"We have done an excellent job till now in providing all support for the disinvestment exercise. 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," said Hejmadi.
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Seeking the cooperation of the employees, Hejmadi further added "We may have to work late in the night to complete the task given to us. I seek the cooperation of one and all."
Meanwhile, a senior Air India official stated, "If due to some reason the time of 27 January is postponed then divestment process has to be done till the end of the month."
Last year, Talace Pvt Ltd, a fully owned subsidiary of Tata Sons Pvt Ltd, won the bid to acquire the Government of India's 100 percent equity stake in Air India, as well as Air India's equity stakes in AIXL and Air India SATS Airport Services Private Limited (AISATS).
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-PTC News
