Strictly maintain confidentiality of Air India bidders: Government

NEW DELHI: The department of investment and public asset management (DIPAM) has asked the transaction adviser (TA) for Air India divestment to “strictly maintain the confidentiality of the potential bidders.”
It has also mandated that potential bidders will sign a “non-disclosure undertaking” about not revealing their identity. The government has appointed Ernst and Young LLP India (EY) as the transaction advisor for AI.
“The TA shall strictly maintain the confidentiality of the potential bidders from all persons including persons in government including the CPSE and non-government. However, if required, information may be shared with specified agencies in national interest upon an advice by the administrative ministry in writing,” DIPAM, which comes under the finance ministry, said in a note tweeted by the aviation ministry on Friday.