India plans to sell 76% stake in Air India, subsidiaries

Agencies
March 28, 2018

New Delhi, Mar 28: The Indian government plans to sell 76 per cent stake in Air India, according to the preliminary information memorandum released on Wednesday on strategic disinvestment of the national carrier. The civil aviation ministry has sought expression of interest (EoI) for the stake sale in the loss-making carrier and two of its subsidiaries.

According to the memorandum, the government plans to offload 76 per cent equity share capital of the national carrier as well as transfer the management control.

Management or employees can participate directly in the bidding process or by way of forming a consortium, as per the memorandum.

Ernst & Young LLP India has been appointed as transaction adviser for the strategic disinvestment process.

The information memorandum said the transaction will involve Air India, its low cost arm Air India Express and Air India SATS Airport Services Pvt Ltd. The latter is an equal joint venture between the national carrier and Singapore-based SATS Ltd.

In June 2017, the Cabinet Committee on Economic Affairs (CCEA) gave in-principle nod to the strategic disinvestment of the airline, which has a debt burden of over Rs50,000 crore.

Subsequent to the decision, the Air India Specific Alternative Mechanism (AISAM), headed by Finance Minister Arun Jaitley, was set up to decide on specific issues.

The national carrier is staying on taxpayers' money under the turnaround plan approved by the previous UPA government in 2012.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 23,2020

New Delhi, Jun 23: With an increase of 14,933 new cases and 312 deaths in the last 24 hours, India's COVID-19 count reached 4,40,215 on Tuesday.

According to the latest update by the Union Ministry of Health and Family Welfare (MoHFW), 14,011 deaths have been recorded due to the infection so far in the country.

The rise in confirmed cases today is lower than the highest spike of 15 thousand plus cases registered on Sunday.

The count includes 1,78,014 active cases, and 2,48,190 cured/discharged/migrated patients.

Maharashtra with 1,35,796 confirmed cases remains the worst-affected by the infection so far in the country. The state's count includes 61,807 active, 67,706 cured, discharged patients while 6,283 deaths have been reported due to the infection so far.

Meanwhile, the national capital's confirmed coronavirus cases reached 62,655.

2,233 deaths have been reported in Delhi due to the infection so far.

Tamil Nadu has reported 62,087 cases so far with toll increased to 794.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 17,2020

New Delhi, Jun 17: Prime Minister Narendra Modi on Wednesday called for an all-party meeting to be held on June 19 to discuss the situation at the border areas with China.

The virtual conference meeting, presided by PM Modi, will be attended by presidents of various political parties in the country.

"In order to discuss the situation in the India-China border areas, Prime Minister Narendra Modi has called for an all-party meeting at 5 PM on 19th June. Presidents of various political parties would take part in this virtual meeting," a tweet by the PMO India read.

At least 20 Indian Army personnel, including a Colonel rank officer, had lost their lives in the violent face-off in the Galwan valley area of Ladakh on June 15.

The violent face-off happened on late evening and the night of June 15 in Ladakh's Galwan Valley as a result of an attempt by the Chinese troops to "unilaterally change" the status quo during de-escalation in Eastern Ladakh and the situation could have been avoided if the agreement at the higher level been scrupulously followed by the Chinese side, India said on June 16.

The Chinese side also suffered casualties, including the death of the commanding officer of the Chinese Unit involved in the violent face-off with Indian troops, sources confirmed to news agency.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 28,2020

New Delhi, Jan 28: Stepping up attack on Chief Minister Arvind Kejriwal, Union Home Minister Amit Shah on Monday dared the AAP chief to visit the anti-CAA protest site at Shaheen Bagh so that the people of Delhi can decide whom to vote for in the assembly election.

Addressing a rally in Rithala in northwest Delhi, Shah said Kejriwal and Congress leader Rahul Gandhi were against the construction of Ram temple, the scrapping of provisions of Article 370 and not bothered about the country's image and soldiers.

The opposition fears that they will upset their vote bank, he said and asked, "Are you their vote bank? Where is their vote bank?" To this, the crowd replied, "Shaheen Bagh".

The BJP leader claimed that the Delhi Police has booked Sharjeel Imam, a JNU student, on the charge of sedition for his comment of "trying to cut chicken's neck" and breaking the North East from the rest of the country.

"I want to ask Kejriwal whether he is in favour of apprehending Sharjeel Imam or not? Whether you are with the people of Shaheen Bagh or not, please tell the people of Delhi," Shah said.

Imam was one of the initial organisers of the Shaheen Bagh protest.

Hitting back at the BJP, Kejriwal alleged that the saffron party does not want to open the Shaheen Bagh stretch of the Kalindi Kunj road as it is doing "dirty politics" over it.

He said law and order in the national capital lies entirely with the Centre and "if they are saying that they need permission from me, I am giving them permission, open the road in one hour".

"I can give it to you in writing, the BJP does not want to open the route in Shaheen Bagh. The Shaheen Bagh route will remain closed till February 8 (election day) and it will open February 9," Kejriwal told reporters.

Calling Kejriwal a member of the 'tukde tukde' gang, a term used by the BJP to attack groups it accuses of working to promote violent leftists and separatism, Shah sought to return fire and said the protesters of Shaheen Bagh will not listen to his party.

"They will not listen to us. You people (AAP leaders) say that you are with Shaheen Bagh, if you have the guts then go and sit with them and let Delhi decide," Shah said.

At another election rally in Janakpuri, Shah accused Gandhi and Kejriwal of doing politics of "vote bank" on national issues and "supporting" the protest at Shaheen Bagh while instigating riots and vandalism.

"The Modi government will not spare anti-national elements," he warned.

Upon mentioning the recent Supreme Court judgment on Ayodhya, Shah was greeted with cheers and chants of 'Jai Shri Ram'.

The home minister further said that this was the first Republic Day in Jammu and Kashmir after the abrogation of Article 370 and the tricolour was unfurled there with enthusiasm and without any bloodshed.

The former BJP president also attacked the Kejriwal government for not fulfilling promises like regularising temporary employees, providing free wifi, opening new schools and colleges, constructing roads and cleaning the Yamuna.

"Kejriwal government is in power since five years but till today there is no clean drinking water in the city. There are no good schools or hospitals as claimed by him. When I visited a Delhi government school, I saw that it was operating from a building that was illegally built and falls in the list of those that to be erased," Shah said.

He claimed that Kejriwal came to power with the help of Anna Hazare's anti-corruption movement but "completely changed" later on.

"He had said that he would not take any government accommodation or vehicles and other facilities but after becoming chief minister he availed all these facilities," Shah said.

He also slammed the Delhi government for not sanctioning the prosecution of former JNU students' union leader Kanhaiya Kumar in a sedition case.

Shah said if the national capital comes under the leadership of Modi, it will become the best city in the world.

The BJP has a vision for development of Delhi and cleaning the Yamuna river will be on top of our agenda, he said.

"Yamuna river is still dirty as against his (Kejriwal) claims of cleaning the river... Modi and Yogi (Adityanath) have cleaned Ganga river as promised. We will make Yamuna Riverfront like Sabarmati riverfront in Ahmedabad," Shah said.

However, a sizeable majority of those present at the public meeting was not convinced by the claims and promises made by Shah.

Bablu Yadav, a migrant and resident of Janakpuri said, "Shah and Modi can only talk but Kejriwal knows how to perform. They keep raking up issues like Ayodhya, Kashmir, Muslims and Pakistan... what are they waiting for if they want to attack Pakistan? They are in power, so why don't they destroy it instead of telling us how wrong Pakistan is?"

Another local Deepak Shrivastava who attended the Janakpuri meeting said, "All we hear from Modi and Shah are pep talks. I am an engineer from BHU and searching for a job. This government has failed the country's youth."

"Now, they have a problem with protests in universities but it is the same youth who brought them to power in 2014. The same youth will ensure their defeat," he added.

The public meeting in Janakpuri witnessed two incidents of pick-pocketing as the thieves managed to steal Rs 37,500 in cash and a mobile phone, police said.

Comments

Indian Soul
 - 
Tuesday, 28 Jan 2020

The biggest ANti-Nationals of INDIA are criminal Modi & AMith Shah Tadi PAAR...how long you will win by EVM...one day the people of indian will teach you a lesion of your life...

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.