No plan to sell off entire government stake in AI: Minister
New Delhi, Aug 1 : The government has no plans to sell-off its entire stake in Air India, Parliament was told on Wednesday.
Minister of State for Civil Aviation Jayant Sinha informed the Rajya Sabha in a written reply to a question on whether the government is considering to exit from the airline altogether, instead of holding a 24 per cent stake.
"The government has no such plan to exit Air India altogether," he was quoted as saying in the reply.
The government had invited Expression of Interest (EoI) on March 28 this year for disinvestment of Air India including the national carrier's share-holding interest in the Air India Express Ltd and Air India SATS. But it received no response till May 31, the closing day.
"Probable reasons as analyzed by the 'Transaction Advisor, i.e, M/s EY' for non-receipt of bids, inter-alia, are GOI 24 per cent stake and corresponding rights, high amount of allocated debt, changes in macro environment, individuals not being allowed to bid, profitability track record and bidders not being able to form a consortium within given time period," he said in the reply.
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Man arrested with Rs 2.54-crore heroin in Mumbai
Mumbai (PTI): Police have arrested a man and seized over 500 grams of heroin worth Rs 2.54 crore in the illicit market from him in Mumbai, officials said on Friday.
The police's Anti-Narcotics Cell (ANC) made the drug seizure in Santacruz in the western suburbs. The operation was conducted by the Kandivali unit of the ANC on Thursday as part of a special crackdown against drug trafficking in the area, they said.
Acting on specific inputs, an ANC team conducted a raid in Santacruz (East) and intercepted a man. During a search, the team recovered 508 grams of high-grade heroin from his possession, an official said.
The seized contraband, a highly addictive, opioid drug derived from morphine, is estimated to be worth Rs 2.54 crore in the international market, he informed.
Following the seizure, a case was registered against the man under relevant sections of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and he was formally placed under arrest in the early hours of Friday.
The police are currently investigating the source of the drug and trying to identify the intended recipients of the consignment, he said.
