DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA Namaste, Tata CONTINUED ON PAGE 2 INSIDE COURT REJECTS BAIL PLEAS BY ARYAN KHAN, 2 OTHERS P3 I-T SEARCHES STILL ON AT PREMISES LINKED TO AJIT PAWAR KIN; NCP SAYS ‘MOTIVATED’ PAGE 5 ` 104 per kilo ` 132 per kilo ` 163 per kilo ` 60 per Dozen WELCOME BACK, AIR INDIA... WILL REGAIN REPUTATION: RATAN TATA 4,400 1,800 domestic slots 141 international landing and parking slots at domestic airports 900 slots at airports overseas aircraft* 30 lakh+ frequent fliers Letterof intenttobeissued,transaction settoclosebyendof December:Govt PRANAV MUKUL NEW DELHI, OCTOBER 8 TATA SONS will regain control of Air India as it takes over 100 per cent of the government’s stake in the national carrier, marking the end of a protracted struggle to sell the airline and the first stepintheCentre’smegaprivatisation push. The Mumbai-based conglomerate placed a winning bid of Rs 18,000 crore, of which Rs 2,700 crore will be paid in cash and the remaining Rs 15,300 crore will be the absorbed from theoverRs60,000croredebtthe airline had as of August 31, 2021. The government, in 1953, had taken control of the airline from the Tata Group, which founded the carrier as Tata Airlines in 1932. Talace Pvt Ltd, a unit of Tata Sons, the holding company for the conglomerate, will acquire CONTINUED ON PAGE 2 BUSINESS AS USUAL BY UNNY domestic market share (AI only) employees* *(AI & AIXL) ‘Landmark in economic policy’: Why this could signal a new takeoff PRANAV MUKUL & SUNNY VERMA NEW DELHI, OCTOBER 8 EXPLAINED WHAT DEAL MEANS FOR THE GOVT AND THE TATAS PAGE 9 ECONOMY WHAT NEXT: RESTRUCTURING OF WAGES, VRS PAGE 13 13.2% 13,500 THE PRIVATISATION OF Air India is a message from the Government to the markets and global investors that it has the political will to bite the reform bullet. Itsdemonstrativeeffect gets amplified because Air India was alwaysahardsellgivenits colossal losses and debt despite continuous infusion of funds. The process was a labour of nine months for officers in the Union FinanceMinistry who encountered multiple obstacles, and had to shed the “over-conservatism” that is typical of bureaucracy, said an official involved in the process. Speaking to The Indian Express, Finance Secretary TV Somanathan said: “It is an important landmark in the evolution of our economic policy.” Officials said a transaction as “tough and complex” as Air India’s in an open, transparent andcompetitivebiddingprocess, will boost future privatisation. “Definitely, there will be a fillip because bidders will get more confidence in the government’s capacity to ● close transactions,” said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM). Senior officials said this sale will help push other tough decisions the government is keen on taking. “Even during E EXPLAINED THERESERVEBankof India(RBI) Fridaykeptkeyinterestratesunchanged for the eighth time in a row, slashed the inflation target for 2021-22 to 5.3 per cent, and indicated the unwinding of the accommodative policy as the economy shows signs of emergingfromtheimpactof theCovid19 pandemic. Interest rates in the banking system are expected to remain steady as the Monetary Policy WINNING BID OF Rs 18,000 CRORE, Rs 2,700 CRORE IN CASH PLANE NUMBERS MUMBAI, OCTOBER 8 `5.00, WWW.INDIANEXPRESS.COM SINCE 1932 MAHARAJA RETURNS TO BOMBAY HOUSE AFTER 68 YEARS GEORGE MATHEW REG.NO. MCS/067/2018 - 20 RNI REGN. NO. 1543/57 JOURNALISM OF COURAGE SATURDAY, OCTOBER 9, 2021, MUMBAI, LATE CITY, 16 PAGES RBI keeps same rates for 8th time, hints end of easy money ● CONTINUED ON PAGE 2 LAKHIMPUR KHERI Not satisfied with steps taken by UP govt: Supreme Court EXPRESS NEWS SERVICE NEW DELHI, OCTOBER 8 MAKING ITS displeasure clear, the Supreme Court Friday said it was “not satisfied with the steps taken” by the UP government in the investigation into the deaths of eight persons in Lakhimpur Kheri, including four farmers who were mowed down by a convoyof vehiclesincludingone owned by Union MoS for Home Ajay Mishra. The three-judge bench headed by Chief Justice of India N V Ramana and including Justices Surya Kant and Hima Kohli, also criticised the makeup of the Special Investigation Team (SIT) in the case, saying it wascomprisedof “local people”, and that it is the state government’s responsibility to “vindi- Mishra going to meet Yogi in Lucknow Friday. Express cate the faith reposed in it”. Responding to Senior Advocate Harish Salve, who appeared for thestateandsaidthat AshishMishra,theMinister’sson whoisallegedtohavebeendriving one of the vehicles, had been summoned for questioning, CJI Ramana said: “This is the opinion of the bench. We expect CONTINUED ON PAGE 2 Backing Oct 11 bandh called by MVA, state to see total shutdown: Sena EXPRESS NEWS SERVICE MUMBAI, PUNE, OCTOBER 8 TWO DAYS after the MVA allies announcedastate-widebandhon October 11 to protest against the deathsofeightpersons,including four farm protesters, in UP’s LakhimpurKheri,theShivSenaon Friday said it was throwing its full weight behind the move and that the state would shut down completely on Monday. CONTINUED ON PAGE 2 Ahead of LAC talks, a near clash in Tawang Teen attacked by leopard in Aarey, eighth such attack within 4 weeks KRISHN KAUSHIK MUMBAI, OCTOBER 8 NEW DELHI, OCTOBER 8 INDIANANDChinesetroopsjostled with each other before disengaging last week near the Sino-IndianboundaryintheEast Tawang sector of Arunachal Pradesh. Details of the incident near the Yangtse area emerged Friday as the two countries preparedforthenextroundof Corps Commander-level talks to resolve the military standoff in Ladakh,thewesternsectorof the CONTINUED ON PAGE 2 YOGESH NAIK A 14-YEAR-OLD boy was attacked by a leopard in unit no 13 of AareyColonyinGoregaonEast on Friday night. Darshan Dravid had claw injuries on his neck, jaw and head. This is the eighth case of a leopard attacking a resident of the area in a month. Aarey resident Ajay Pradhan said Darshan was attacked around 9 pm. "It appears that the leopard went for his neck. Fortunately, it did not bite him. The animal has Darshan Dravid had injuries on his neck, jaw, head. Express clawed him. He was taken to Hinduhridaysamrat Balasaheb ThackerayHospitalinJogeshwari CONTINUED ON PAGE 2
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