Air India was officially handed over to the Tata group on Thursday, news agency ANI reported. The Tata’s now takes full control of the iconic ‘Maharaja’.
A senior government official had told the news agency, earlier on Thursday, “Officially Air India hands over to Tata Group today in the afternoon. Tata Group Chairman N Chandrasekaran will be in the ministries for the official handover process [sic].”
The Tata Group led by Ratan Tata, took back the ownership of Air India airlines after nearly 69 years.
“The formalities have been completed. The Air India disinvestment process is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India,” Secretary, Department of Investment and Public Asset Management (DIPAM) Tuhin Kant Pandey was quoted as saying by ANI.
The Centre has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets.
The DIPAM Secretary said the new owners of Air India are Talace as the entire Rs 2,700 crore has been received by the government.
“We have transferred shares. Entire Rs 15,300 crore of debt which was to be retained, has also been accepted. So all processes are completed,” he added.
