Probable reasons that led to failure of the sale process include 24 per cent government stake and corresponding rights, high debt, volatile crude oil prices, fluctuations in exchange rate, changes in macro environment, profitability track record of bidders and restriction on bidding by individuals.
The government is planning to liberalise the terms and conditions for the sale of the national carrier. The Centre is still pursuing the option of selling the airline's subsidiaries before the airline itself, in order to deal with an outstanding debt of around Rs 27,000 crore.
Sources in the know said the government would initiate talks with businesses, including Tatas, shortly for divesting its stake in the national carrier.
The 16th seeds, Bopanna and Middelkoop, who have played some exhilarating tennis throughout
While Road Transport Minister Nitin Gadkari has been dropped, the panel now has four ministers - Shah, Finance Minister Nirmala Sitharaman, Commerce and Railway Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri.
The November 29-30 contest has already been rescheduled once, owing to security concerns raised by India.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
Dismissing Pakistan's review appeal, the International Tennis Federation (ITF) announced Kazakhstan's capital Nur-Sultan as the neutral venue for the tie.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
The EoI and the share purchase agreement would be issued in January itself for the bidders. While Air India's net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.
No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
Prajnesh Gunneswaran and Ramkumar Ramanathan will lead the singles challenge, while Rohan Bopanna and Divij Sharan will make the doubles pair for the grass court tie.
Pakistan's tennis ace Aisam-ul-Haq Qureshi is to start his 2014 season along with his former partner Rohan Bopanna by appearing in the Aircel Chennai Open to be started from December 30, according to reports.
Seeking to allay fears on Indian team's security during the Davis Cup tie, Pakistan Tennis Federation president Salim Saifullah Khan assured that the contest will be held in safe and secure environment, promising "impressive hospitality" to the visitors.
India's Sania Mirza and her Romanian partner Horia Tecau stormed into the semifinals of the mixed doubles event at the Australian Open with straight sets victory over Aisam-ul-Haq Qureshi and Julia Georges, in Melbourne on Thursday.
Doubles specialist Rohan Bopanna said he has no security concerns about playing Davis Cup in Pakistan, where he has always enjoyed 'great hospitality'.
Rohan Bopanna achieved his career-best rank of 19 in the doubles ATP chart following his stupendous run at the US Open, where he was the runners-up along with doubles partner Pakistan's Aisam-ul-Haq Qureshi.
Air India has planned to monetise its unutilised and surplus immovable real estate assets over the next few years.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
An Indian tennis team will travel to Pakistan after 55 years. The last time they sparred on Pakistan soil was way back in March 1964 in Lahore, where India won 4-0.
Indian tennis star Rohan Bopanna and Pakistan's Aisam-ul-Haq Qureshi have decided to reunite for the 2014 season.
Aisam Qureshi beat Ashutosh Singh 6-3, 6-3 to enable Pakistan beat India 2-1 in the second leg of the tennis series in Islamabad.
India, with players of the caliber of Sumit Nagal, Ramkumar Ramanathan and veteran Leander Paes, were already expected to win easy but pulling out of Pakistan top players Aisam-ul-Haq Qureshi and Aqeel Khan has made it a no-contest.
Rohan Bopanna and his Pakistani partner Aisam-Ul-Haq Qureshi continued their fine form and advanced to the men's doubles quarter-finals of the Dubai Duty Free Championships.
Rohan Bopanna and Aisam-ul-haq Qureshi scored their first victory since reuniting as a team, overcoming a spirited challenge from Jean-Julien Roger and Horia Tecau in the first round of the ATP Apia International, in Sydney on Tuesday.
Rohan Bopanna and his Pakistani partner Aisam-Ul-Haq Qureshi entered the final of the men's doubles event of Sydney International tennis with a comfortable straight-set win over Lukas Rosol and Joao Sousa in Sydney.
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15. The source said bids will be sought on an enterprise value basis - a popular valuation methodology for takeover deals.
Second seeds Rohan Bopanna and Aisam-ul-haq Qureshi survived a scare before diffusing the challenge of Mahesh Bhupathi and Denis Istomin in the quarter-finals of the ATP 500 Dubai Duty Free Championships on Thursday.
Vivek Shokeen and Ashutosh Singh won the doubles tie to help India clinch the first leg of the tennis series against Pakistan.
The Indo-Pak combo have decided to extend their partnership till the year's last Grand Slam event.
Rohan Bopanna and Aisam-Ul-Haq Qureshi braved sweltering heat and a stiff challenge from Rameez Junaid and Adrian Mannarino to enter the second round of the Australian Open.
Pakistan tennis mulls appeal against shifting Davis Cup tie; PTF president says 'India has only politicised a sports event'.
Fifth seeds Leander Paes and Radek Stepanek were eliminated from the ATP Cincinnati Masters following their defeat to Vasek Pospisil and Jack Sock, in Cincinnati on Wednesday.
India's Rohan Bopanna earned himself an opportunity to become only the fourth Indian to win a Grand Slam trophy by reaching the French Open mixed doubles final with partner Gabriela Dabrowski, in Paris.
Rohan Bopanna and his Romanian partner Florin Mergea advanced to the semi-finals of the ATP Shanghai Rolex Masters with a shock victory over the fourth seeded Croat-Brazilian pair of Ivan Dodig and Marcelo Melo on Friday. The unseeded Indo-Romanian won the quarter-final 6-4, 3-6, 10-7.
Rohan Bopanna and Aisam-ul Haq Qureshi failed to get past the formidable United States' combination of Mike and Bob Bryan, losing in straight sets in the second round of the ATP Rome Masters, on Thursday.
Rohan Bopanna and Aisam-ul-haq Qureshi overcame a stiff resistance from Julian Knowle and Vasek Pospisil before moving to the pre-quarterfinals of the ATP Monte Carlo Rolex Masters.
Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
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