Union Aviation Minister Jyotiraditya Scindia on Saturday said the Air India stock trading process is ongoing and technical aspects of bids are being analyzed before financial bids are opened.
However, he declined to comment on the bills received by the debtor nationwide.
“We have received technical bids and financial bids in closed envelopes. Currently, the technical bids are being processed. The finance bills will only be opened after the technical bids have been considered,” the Minister of Defense said to the media here.
He said the process of stock trading in companies was ongoing and would reach a climax. “We will keep you informed as we proceed with the process.”
“As long as the screening process continues, I will not disclose the details. Until then, you think it is the same as mine,” Scindia said.
According to a source, a number of bids have been received from the airline. However, certain details about the bids were not immediately available.
Tata Sons, which owns a major Indian company, and SpiceJet head Ajay Singh are among those who have invested in bids to find a state-owned airline.
Financial bids will be assessed against an undisclosed amount of tax and a bid that offers a higher value than that amount will be accepted.
The bid will be reviewed first by the marketing adviser before the recommendation is submitted to Cabinet for approval.
