Tata Sons has emerged as the top bidder for the takeover of debt-laden state-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
Financial bids put in by the salt-to-software conglomerate and SpiceJet promoter Ajay Singh were opened a few days back and were vetted by the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary on Wednesday, sources with knowledge of the matter said.
The bids were evaluated against the reserve price set and Tatas emerged as the highest bidder, they said, adding this will now have to be placed before the committee of ministers on Air India privatisation led by Shah.
The other members of the panel called Air India Specific Alternative Mechanism (AISAM) are Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Civil Aviation Minster Jyotiraditya Scindia.
If its bid is accepted by AISAM, Tatas will take over the national carrier they once founded.
Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932. It was called Tata Airlines then. In 1953, Air India was nationalised.
Hence, the idea that Air India might come back to Tata has netizens overjoyed. Many have already begun celebrating.
Here's what people are saying. Have a look.
With inputs from PTI.