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Rs 18,000 crore bid gets Tata Sons control of Air India after 68 years

To take over the ownership of the Air India, the Tata Sons will pay Rs 18,000 crore for the Maharaja, outbidding a consortium led by Spice Jet’s Ajay Singh who had bid Rs 15,100 crore. The transaction is expected to be done by the end of December this year.

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Tata Sons on Friday regained control of the government airline Air India nearly 70 years after its nationalisation. Tata Group already owns about 84% stake in AirAsia India and 51% in Vistara.

Ending its several years of struggle to privatise the financially troubled airline, the Tata Sons has emerged as the winning bidder to take over the control of Air India.

Till August 31, Air India, which serves 42 international destinations, had a total debt of Rs 61,562 crore.

The company had placed a winning bid of Rs 18,000 crore to re-acquire the 100% stakes of the airline. The government had started evaluating the bids for the debt-laden national carrier earlier last week.

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To take over the ownership of the Air India, the Tata Sons will pay Rs 18,000 crore for the Maharaja, outbidding a consortium led by Spice Jet’s Ajay Singh who had bid Rs 15,100 crore. The transaction is expected to be done by the end of December this year.

Over the years, the Central government have tried selling the money guzzling airline. The govt will get Rs 2,700 crore in cash from the Air India sale. The rest is the government’s debt, which Air India will take over.

Air India first began as Tata Air Services in 1932. The airline returned to Tata after 68 years now.

Read Also: Kapil Sibal slams PM Modi for being silent over Lakhimpur Kheri violence

The process of Air India’s sale began in July 2017 and the government has received 7 expressions of interest by December last year, the Finance Ministry’s Department of Investment and Public Asset Management (DIPAM) announced on Friday.

The DIPAM secretary said a group of ministers comprising Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Civil Aviation Minister Jyotiraditya Scindia had cleared the winning bid for Air India on October 4.

In other India News, A bomb blast at Shiite mosque in the Afghan city of Kunduz has left several casualties today during Friday prayers took away at least 50 people lives. 

India News

SIT issues lookout notice for Prajwal Revanna in sex video case

A police officer, who is part of the SIT, confirmed to the media that a lookout circular has been issued at all the immigration points to detain Prajwal Revanna, said to be in Germany, as soon as he enters the country.

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The Special Investigation Team (SIT), probing the sex tapes case involving JD(S) Lok Sabha candidate Prajwal Revanna, on Thursday issued a lookout notice against him. The notice was issued at all immigration points all over the world. The development comes as Revanna allegedly fled to Frankfurt, Germany on April 26, as a huge cache of explicit videos and photographs showing him indulging in the sexual abuse of several women went viral on social media platforms.

Prajwal Revanna is the grandson of former prime minister and JD(S) patriarch HD Deve Gowda and son of former minister HD Revanna, is seeking re-election from Hassan on the JD(S) ticket. The JD(S) MP faces sexual assault charges and has sought 7 days to appear before the Special Investigation Team probing the matter.

Prajwal Revanna and his father, DD Revanna have been issued notices to appear before the SIT for questioning. The Hassan MP informed the SIT team that he is currently outside Bengaluru. A case has been registered against both HD Revanna and his son Prajwal Revanna at Holenarasipura based on a complaint lodged by their former cook and relative for sexually harassing her.

She alleged that Prajwal Revanna made video calls to her daughter and spoke in an objectionable manner, which forced her to block his phone number. The FIR was referred to the SIT, led by BK Singh, Additional Director-General of Police, Criminal Investigation Department, formed to probe the alleged sex scandal involving Prajwal Revanna, after many explicit videos were circulated on social media.

The National Commission for Women (NCW) has demanded a comprehensive report within 3 days from the Karnataka Police regarding allegations of sexual misconduct against Prajwal Revanna. The NCW expressed grave concern over the circulation of a number of obscene videos on social media, which showed Prajwal Revanna sexually assaulting number of women.

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2024 Lok Sabha Elections

PM Modi takes a dig at Rahul Gandhi, says Pakistan wants him as Prime Minister

PM Modi said Pakistan is eager to make the prince the Prime Minister and everyone knows that the Congress is a fan of Pakistan. The prime minister further added that the partnership between Pakistan and Congress has now been completely exposed.

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Prime Minister Narendra Modi took a veiled dig at Rahul Gandhi on Thursday. He was addressing an election rally in Gujarat’s Anand where PM Modi said, Congress is dying here and Pakistanis are crying. He further added that Pakistani leaders want to make shehzada of Congress the prime minister of India.

He said everyone should look at the coincidence that today the Congress is getting weak in India and Pakistani leaders at the same time are praying for the grand old party. PM Modi said Pakistan is eager to make the prince the Prime Minister and everyone knows that the Congress is a fan of Pakistan. The prime minister further added that the partnership between Pakistan and Congress has now been completely exposed.

A few days earlier Pakistani leader Chaudhary Fawad Hussain had shared a video on X which featured Rahul Gandhi, in which the Congress leader is seen targetting the BJP and PM Modi. In the video shared by the former Pakistan minister, rahul Gandhi can be seen attacking the BJP government over the invitees at Ram Mandir’s Pran Pratishtha ceremony.

The edited video shows Rahul Gandhi speaking about the Ram Mandir’s inauguration and charging the BJP government of sidelining the interests of the poor and youth.  PM Modi further added at the Anand rally that Congress Shahzade is dancing around with the Constitution on their foreheads. But for 75 years, this did not apply to all parts of Hindustan. The Constitution was not applicable in Kashmir, where Article 370 was like a wall that the BJP government had demolished.

The Prime Minister said it is his guarantee that he will work 24×7 to make India a developed country by 2047. He pointed out that in the last 10 years, the BJP government has given tap water connections to 14 crore houses, while the Congress gave just 3 crore houses in 60 years.

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2024 Lok Sabha Elections

Farooq Abdullah accuses PM Modi of trying to divide the country over religion

Faroukh Abdullah reacted to PM Modi’s remark that the Congress will redistribute people’s money and property to Muslims if voted to power and said Muslims respect all religions. He said that they are Muslims and Allah has told them to respect other religions. He further added that a Muslim cannot snatch anyone’s right.

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Farooq Abdullah, Jammu and Kashmir’s National Conference President said on Wednesday that Prime Minister Narendra Modi was trying to divide the country over religion. He also said that those who will vote for them must prepare for hell. Farooq Abdullah said Muslims cannot snatch away the rights of others.

Farooq Abdullah also called Prime Minister Narendra Modi-led government a threat to the survival of the country. Omar Abdullah, former Jammu and Kashmir chief minister cautioned the people not to divide this country on the basis of religion, otherwise a storm will unleash making the survival of the nation difficult. He said it is better to talk about uniting the country, instead of dividing its people.

He was addressing an election rally in Thanamandi area of the Rajouri district in Jammu and Kashmir. The Anantnag parliamentary constituency will go for elections on May 25. Faroukh Abdullah reacted to PM Modi’s remark that the Congress will redistribute people’s money and property to Muslims if voted to power and said Muslims respect all religions. He said that they are Muslims and Allah has told them to respect other religions. He further added that a Muslim cannot snatch anyone’s right.

He remembered an incident when former Prime Minister Rajiv Gandhi once stopped his car in Pulwama and assured a poor Hindu woman that he would give her a mangalsutra as she could not afford it. Farooq Abdullah said those who were against the INDIA bloc are against the nation.

Prime Minister Narendra Modi had earlier sparked a controversy last month as he commented that the Congress would take away the hard-earned money of the masses and distribute them among infiltrators and those with many children.  Speaking at a rally today, the Prime Minister took a jibe at the Congress and said the governments in the past were not able to implement the Indian Constitution in Jammu and Kashmir. He was referring to the revocation of Article 370.

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