Subramanian Swamy terms AI divestment a potential scam in the making

New Delhi March 31 (IANS) BJP MP Subramanian Swamy on Saturday described the Air India divestment process as "potentially another scam in the making" saying he would file a criminal complaint if he finds any "culpability".

"The proposed sale of Air India is potentially another scam in the making. Selling family silver is not divestment. I am watching who is doing what and will if I see culpability file a private criminal law complaint " the Bharatiya Janata Party (BJP) leader said in a tweet.

Swamy s tweet came days after the divestment process of the flag carrier Air India (AI) took-off in the wake of government inviting "Expression of Interest" to off-load 76 per cent stake and management control of the airline.

The Preliminary Information Memorandum (PIM) inviting "EoI" for the strategic divestment of AI along with the airline s shares in AIXL (Air India Express) and AISATS (Air India SATS Airport Services) from private entities including the airline s employees was issued on Wednesday.

The central government owns 100 per cent equity of Air India. In turn the airline holds full stake in Air India Express while it holds 50 per cent stake in the joint venture AISATS.

Accordingly it has been planned to divest 76 per cent government stake in AI 100 per cent in AIXL and 50 per cent in AISATS.

--IANS
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