The Department of Investment and Public Asset Management aka DIPAM has asked the Transaction Advicer (TA) to keep the information regarding the bidders of Air India strictly Confidential.
New Delhi: Air India is about to get sold and the information regarding the potential owners of the same will be kept a secret through a strict confidentiality claws as the Potential Bidders of Air India will sign a “Non Disclosure Undertaking” about not declaring their identity.
DIPAM stated “The TA shall strictly maintain the confidentiality of the potential bidders from all persons in government including CPSE and Non-government.” TA also added that if needed the information may be shared with specified agencies keeping the national interest at mind that also has to be permitted by administrative ministry in writing.
DIPAM comes under the finance ministry and they said all this on a note shared by Aviation Ministry on twitter this Friday on 5th February.
DIPAM also added that each of the potential bidders should be assigned with a code and that code should be used as their identity in every action they perform. That particular code should mask all the information regarding the bidders identity.
Air India is the flag carrier airline of India. The headquarters of AI is based in New Delhi and it is owned be a governmental enterprise Air India Limited.
By Soumen Paul
