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Tata wins Air India with ₹18,000 crore bid
After a gap of 68 years, debt-laden national carrier Air India returned to its founders Tata Sons, ending a decades-long struggle to offload the money-losing flag carrier. The salt-to-software conglomerate placed a winning bid of ₹18,000 crores re-acquire the airline more than half a century after it ceded control to the Centre.
Apart from a 100% stake in Air India and its low-cost arm, Air India Express, the winning bid also includes a 50% stake in ground-handling company Air India SATS Airport Services Private Limited (AISATS).
The process of Air India’s sale began in July 2017 and the government has received 7 expressions of interest by December last year, the Finance Ministry’s Department of Investment and Public Asset Management (DIPAM) announced on Friday.
An SPV of Tata Sons said, “the holding company of conglomerate – has emerged as a successful bidder, Tuhin Kanta Pandey, secretary to the DIPAM, the government department responsible for privatisation”
Tata Sons beat SpiceJet promoter to bag Air India. For Tata Group, Air India adds a third airline brand to its stable, considering the conglomerate already holds a majority interest in AirAsia India and Vistara.
The DIPAM secretary said Tatas’ bid of ₹18,000 crore comprises taking over 15,300 crores of debt and paying the rest in cash. Both bidders had quoted above the reserve price, he said adding the transaction is planned to be closed by December.
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To Guarantee Seamless Ganeshotsav Travel, Heavy Trucks Are Prohibited On The Mumbai-Goa Highway
From September 5 to September 18, there will be no heavy vehicle traffic on the Mumbai-Goa highway in order to guarantee a smooth and secure journey for devotees of Ganesha who are going from Mumbai to Konkan for Ganeshotsav. To guarantee that devotees can travel without interruption and to avoid traffic congestion, the Home Department has issued regulations to this effect.
The Navi Mumbai Traffic Department’s Deputy Commissioner of Police, Tirupati Kakade, said that large vehicles—that is, those weighing sixteen tons or more—will not be allowed to pass on National Highway No. 66 at this time. In order to accommodate the enormous number of Ganesha devotees traveling to Konkan, the limitation will be in place from 12 PM on September 5 until 8 PM on September 18.
The Navi Mumbai Transport Department has set up facilities centers at six strategic locations: Vashi Toll Gate, Airoli Toll Gate, Dhansar Toll Gate, Kalamboli Circle, Palaspe Circle, and Karnala Pass. These are in addition to the traffic ban. These centers will offer vital services such emergency wireless communication, medical attention, fire department support, mechanical help for vehicle breakdowns, and crane facilities.
The Navi Mumbai Transport Department has deployed a full police force, comprising 1 Deputy Commissioner of Police, 1 Assistant Commissioner of Police, 15 Police Inspectors, 31 Assistant Police Inspectors/Police Sub-Inspectors, 610 Police Enforcers, and 91 Wardens, to efficiently manage traffic during Ganeshotsav.
The official stated, “These measures are intended to minimize disruptions on the Mumbai-Goa highway during the festive period and to facilitate a safe and efficient journey for Ganesha devotees.”
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Nerul Police Arrested Navi Mumbai Rickshaw Federation’s Founder for ₹20 Lakh Extortion
Kasam Hasham Mulani, the original president of the Navi Mumbai Rickshaw Federation, was detained by Nerul police after he demanded an extortion of Rs 2 lakh from an officer of the Regional Transport Office (RTO). He was apprehended while taking a Rs 20,000 extortion.
While he conducted vehicle testing on the testing track, Mulani was filming Assistant Inspector Kunal Mohite, an RTO official from the Nerul office. Every time Mulani shot a cop on camera, he would threaten to teach everyone a lesson.
The Regional Transport Office (RTO) officer was the target of an extortion attempt by Kasam Hasham Mulani, the founder president of the Navi Mumbai Rickshaw Federation, which led to Mulani’s arrest by Nerul police. When he agreed to pay an extortion of Rs 20,000, he was exposed.
As Assistant Inspector Kunal Mohite, an RTO officer from the Nerul office, conducted vehicle testing on the testing track, Mulani was filming him. Mulani would always threaten to teach everyone a lesson after filming the police and shooting him.
Mohite took out Rs 20,000 in cash from the ATM prior to meeting Mulani; the Nerul police had a record of the ATM’s serial number. Mulani arrived, and Mohite gave him the money. Mulani then began to demand Rs. 2 lakh, threatening to provide just Rs. 1 lakh by the end of the day. He was apprehended by Nerul police at the same moment.
The first president of the Navi Mumbai Rickshaw Federation is Mulani, a Taloja inhabitant. In addition, he serves as the NCP Minority Division’s District President for Panvel City.
An officer from the Nerul police station stated, “He was arrested on extortion charges, and further investigations are underway to determine if he had extorted money in a similar manner from any other officer.”
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Ticket Prices Of Navi Mumbai Metro Reduces
The City and Industrial Development Corporation of Maharashtra (CIDCO) has announced a substantial drop in metro ticket costs for the Belapur-Pendhar corridor, which is a positive development for Metro riders in Navi Mumbai. With effect from September 7, the new pricing structure will result in fare reductions of up to 33%. The highest ticket has been restricted at Rs 30 and the lowest fare will now be Rs 10.
With longer travel distances for each cost slab, the revised fare scheme provides greater value for the money. A ticket will now cost Rs 10 for travels up to four kilometers, Rs 20 for travels between four and eight kilometers, and Rs 30 for travels beyond eight kilometers. The fee has been lowered from Rs 40 to Rs 30 from Belapur Terminal to Pendhar.
CIDCO has expanded the Navi Mumbai Metro service’s operating hours in addition to lowering fares. Metro services from Belapur and Pendhar stations will now start at six in the morning starting in April. The final metro train leaves Belapur at 11 p.m. and Pendhar at 10:30 p.m. This is a weekly extension that is applicable every day.
Along its 11.1-kilometer journey, the Belapur-Pendhar Line-1 of the Navi Mumbai Metro has 11 stops, with the train depot situated at Taloja Panchanand.
According to a statement made to the Hindustan Times by CIDCO’s vice chairman and managing director, Vijay Singhal, “the fare reduction and extended timings aim to make the metro service more accessible and convenient for both short- and long-distance commuters.”
Part of CIDCO’s Navi Mumbai Metro project, the Navi Mumbai Metro Corridor No. 1 connects Belapur to Pendhar and improves access to important locations including the CBD, Taloja MIDC, and CIDCO’s housing complexes in Kharghar. This line’s metro services started on November 17 of last year.
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