Government of India has given the green light for the handover of Mumbai's Air India building to the Maharashtra state government. The transfer, approved by the Department of Investment and Public Asset Management (DIPAM), involves the Air India building owned by AI Assets Holding Company Ltd (AIAHL) and is valued at Rs.1601 crore.
Tuhin Kanta Pandey, the secretary of DIPAM, confirmed the approval and highlighted that this move signifies a significant transaction between the central and state governments.
In addition to the building transfer, the Maharashtra government has also agreed to waive dues amounting to Rs.298.42 crore, which AIAHL would have owed to the state government. This agreement further solidifies the transaction, providing a smoother transition of ownership.
The approval marks a milestone in the collaboration between the central and state authorities, paving the way for effective asset management and utilization. This development is expected to have positive implications for both parties involved, contributing to the overall development and economic growth of the region.
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