Government to keep identity of potential bidders of Air India sale confidential

DIPAM, part of Ministry of Finance released a statement stating that the identity of potential bidders for the sale of Air India will be kept confidential and will be shared with concerned and specific agencies only.

Each potential bidder will be assigned a code and all the dealings including site visit, bidding, due diligence will be done using that code only. All bidders, inter alias will also have to sign a NDA, which includes its employees also; so that the identity or contact of any member of the central public sector enterprise or the Administrative Ministry and DIPAM and the information shared as part of the transaction remains strictly confidential.

This would be the second time the Indian government plans on selling it’s stake in the airline and it wishes to complete the process by 2022.

 

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