Airline will return to Tatas after 68 years; first privatisation move in two decades
Air India reported an operating profit of Rs 1,787 crore in FY20 on a consolidated basis but reported a net loss of Rs 7427 crore due to interest and depreciation costs
The bid got approved by a group of ministers headed by Home Minister Amit Shah on October 4, said DIPAM Secretary
Clarification comes amid reports that Tata Sons may have won the bid
DIPAM Secretary, in a tweet, said the government has so far not approved the financial bids for Air India
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Both Tata and Chandrasekaran were reacting to media reports that a new CEO position will be created in Tata Sons to oversee the group's business
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Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage, says DIPAM Secretary
The nod comes at a time when the group has ambitious plans to enter the e-commerce business
Under the plan being proposed, the CEO will guide the sprawling businesses of the 153-year-old Tata empire, while the chairman will oversee the chief executive on behalf of shareholders, say sources
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The shareholders will vote on raising fresh debt when group has made ambitious plans to make big splash in e-commerce and buying Air India from central govt
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Telecom, airline businesses continue to remain a drag for holding company
The operational revenue of Tata Sons fell by 62% to Rs 9,460.24 crore in FY21 as against Rs 24,770.46 crore reported in the previous year
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The shareholders will vote on the proposal on September 14 at the company's annual general meeting
Online meeting is scheduled to take place on Sept 14
Goyal's comments on Tata came after the conglomerate was reportedly among most vociferous in telling the govt that proposed e-commerce rules will have a major impact on its business