Air India invites bids from law firms to review business contracts, legal, labour issues
Flag carrier Air India is looking to hire a law firm for due diligence process for proposed disinvestment of its three businesses — Air India Ltd, Air India Express Ltd, and Air India SATS Airport Services Ltd. Air India has invited bids from law firms to review and summarise “material contracts entered into by AI entities”, “all cases filed by or against the AI entities” and highlight liabilities, if any in these cases, along with “all labour-related issues,” according to the tender available on the website. The last date for submitting bids by law firms is November 8, 2019.
The area of diligence spans across the group’s contracts valued over Rs 50 crore including service level agreements, aircraft lease agreements, fuel agreements, airport lounge facilities agreement etc., along with licenses obtained or returns filed under labour legislation from 2016 onwards, employee benefits, employment-related agreements and labour law disputes.
