Tata Group wins Air India bid, returns to Tata fold after 67 years
Tata Group has won the bid for acquiring debt-laden Air India, according to media reports. SpiceJet and Tata Sons have submitted bids for taking 100 per cent control over Air India. As the Tata’s bidding price was higher than the SpiceJet, a Committee of Ministers headed by Home Minister Amit Shah has approved for handing over Air India to the Tata Group. The Indian government nationalised Air India in 1953 after it was founded by the Tata Group in 1932. The Air India returned to Tata fold after a long gap of 67 years.