Bidding for Air India to be done on enterprise value: Civil Aviation Minister Hardeep Singh Puri
New Delhi: Civil Aviation Minister Hardeep Singh Puri on Thursday said bidding for Air India would be done on the basis of its enterprise value instead of equity value.
The enterprise value of a company includes the equity value, debt as well as cash with the company. Equity value measures the value of a company's shares.
"We have decided to ask for bids for Air India on enterprise value," Puri said at a press conference.
Aviation Secretary Pradeep Singh Kharola said at the conference, "The bid will be on the enterprise value... In this enterprise value also, a ratio has been earmarked between how much he (bidder) can take as debt and how much he has to give as cash."
It has been decided that whatever enterprise value the bidder quotes, 15 percent of that has to be given in cash to the government, and the remaining 85 percent has to be taken as debt along with Air India, Kharola explained.
The debt of Air India as of March 31, 2019, was Rs 58,255 crore. Later in 2019, Rs 29,464 crore of this debt was transferred from Air India to a government-owned special purpose vehicle called Air India Assets Holding Company Limited (AIAHL).
After its unsuccessful attempt to sell Air India in 2018, the government in January this year restarted the divestment process and invited bids for selling 100 percent of its equity in the state-owned airline, including Air India's 100 percent shareholding in Air India Express Ltd and 50 percent in Air India SATS Airport Services Private Ltd.
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BJP fielded Ujjwal Nikam in polls who lied about Ajmal Kasab being served biryani in jail: Congress
Mumbai (PTI): AICC spokesperson Supriya Shrinate on Saturday alleged the BJP replaced a woman MP with someone like lawyer Ujjwal Nikam in Lok Sabha elections whose "lie" about 26/11 terrorist Ajmal Kasab being served biryani in jail had been exposed in the past.
The BJP picked former special public prosecutor Nikam from the Mumbi North Central constituency by dropping sitting MP Poonam Mahajan.
Addressing a press conference, Shrinate said the people will teach the BJP a lesson by electing Congress candidate Varsha Gaikwad from the Mumbai North Central seat.
"Nikam's falsehood on Ajmal Kasab being served Biryani in jail was exposed a few years ago and he too had accepted his lie," she claimed.
Expressing confidence that the Maha Vikas Aghadi (MVA) will win all six seats in Mumbai, Shrinate claimed the BJP has to import candidates from outside to contest elections.
She alleged Union minister Piyush Goyal, who is BJP's nominee from Mumbai North constituency, cannot tolerate the smell of fishermen who are the original inhabitants of Mumbai.
"As the political atmosphere in the country is turning against Prime Minister Narendra Modi and the BJP, they are spreading falsehood about the Congress by attributing motives to the party if it is elected to power. Since the BJP hasn't done any good work in the last ten years, they are speaking only about Congress and Rahul Gandhi," she alleged.
Meanwhile, Shiv Sena led by Chief Minister Eknath Shinde condemned Congress leader Vijay Wadettiwar's purported remarks on 26/11 martyrs and Mumbai Police.
Wadettiwar, the leader of the opposition in the Maharashtra legislative assembly, purportedly called Ujjwal Nikam an "anti-national" and accused him of hiding the information that then Maharashtra ATS chief Hemant Karkare wasn't killed by Kasab's bullet during the 26/11 terror attack, but fell to a bullet of a policeman who was affiliated to RSS.
Wadettiwar's allegations were based on the book "Who Killed Karkare" written by retired police officer SM Mushriff.
"Wadettiwar should be detained by NIA and investigated to find out why is defending terrorist Ajmal Kasab (who was hanged after trial). The Congress party promotes terrorism," the Shiv Sena said in a statement.
Shiv Sena secretary and spokesperson Kiran Pawaskar accused Wadettiwar of making disrespectful remarks about the valiant policemen who sacrificed their lives during the 26/11 terrorist attack.
"Wadettiwar's remarks emphasise the track record of the Congress which promotes terrorism rather than its prevention. The Congress is not a party that prevents terrorism but it promotes terrorism," he alleged.
Pawaskar also questioned the "silence" of Uddhav Thackeray and alleged the Shiv Sena (UBT) leader was reluctant to speak about Wasettiwar for fear of upsetting certain communities.
He demanded Wadettiwar apologise in public to the kin of the martyrs of the 26/11 attack and the police force for his derogatory remarks.
He reiterated the Bharatiya Janata Party's endorsement of Nikam's candidature, citing his "unwavering dedication to justice, especially in cases of Dalit oppression such as the Khairlanji massacre".
Pawaskar said Congress' criticism of Nikam was baseless and an affront to the exemplary reputation of the Mumbai Police.
Meanwhile, the BJP Yuva Morcha in Mumbai staged a protest against "pro-Pakistan" Congress for calling Ujjwal Nikam an anti-national.
