AGARTALA, Jan 27 (TIWN): Congress Referring to the Air India privatisation, Congress leader Kapil Sibal said when governments do not have money, this is what they do.

"The Government of India has no money, growth is less than 5 percent and millions of rupees are outstanding under MNREGA. This is what they will do, sell all valuable assets we have," Sibal said.

Centre looking to sell 100% of its equity share capital, including Air India’s shareholding interest of 100% in AI Express and 50% in Air India SATS Airport Services
The divestment of Air India restarted on Monday with the government seeking to sell 100 per cent of its equity share capital in the state-owned airline, including Air India’s shareholding interest of 100 per cent in AI Express Limited and 50 per cent in Air India SATS Airport Services Private Limited.

The sale will be implemented through the open bidding route, with March 17 being set as the deadline for interested parties to submit their bids. Those interested in bidding for Air India must have a net worth of ?3,500 crore.

 Sources close to the development told BusinessLine that the government hopes to identify the pre-qualified bidders by March 31 and after that the second stage of the divestment process will begin with price bids being called to eventually decide who Air India will be sold to. It is likely to take another two to three months after March for the entire process to be completed. Ernst & Young is the transaction advisors for the divestment process.