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RBI bids for Air India's iconic Nariman Point tower
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SME Times News Bureau | 16 Apr, 2019
Reserve Bank of India (RBI) has tossed its hat in the ring for the
taking over of Air Indias iconic tower at Nariman Point in Mumbai.
The central bank is learnt to have offered 10 years' lease rental as advance payment, a top reliable source told IANS .
"The
RBI wants to take the whole building and is willing to give advance
lease rentals for 10 years advance payment upfront," he said.
In response to an IANS query on the development, the RBI declined to comment.
Earlier,
state-controlled LIC and Jawaharlal Nehru Port Trust (JNPT) had
expressed interest to acquire the signature building with the latter
ready to shell out about Rs 1,300 crore.
A section of Air India
employees has, however, vehemently opposed the government move to sell
the building and has sought to reconsider the decision.
"We are
already generating Rs 130 crore annually from the building and can
generate Rs 400-500 crore a year. There is huge scope for advertising
the way it happens in the US and other countries," a senior executive
said.
The national carrier had last December floated tender to
sell its 23-storey building as part of larger asset monetisation plan
and allowed only government entities to participate in the bidding for
acquiring lease hold rights on "as is where is basis".
"It does
not make sense to sell the building. If properly managed, the building
can earn in just a few years what prospective buyers have offered," the
person quoted above said.
The government had mooted the plan to
sell the Nariman Point building after its plan to sell majority 74 per
cent stake in the carrier proved a damp squib with no private investor
turning up for the offer.
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