Reliance insurance bid for AI unfair: New India Assurance

New Delhi: Public insurer New India Assurance has accused the troubled NACIL of flouting the tender norms for about Rs 45,000-crore insurance cover for Air India's fleet to favour a consortium led by an Anil Ambani group firm, which refuted the allegation.
While NACIL declined to comment on accusations contained in a letter sent to it by New India Assurance, Reliance General Insurance said it had supplied all the information and documents desired by the aviation company for the tender.
In its letter to National Aviation of Company of India of India Ltd (NACIL), New India Assurance Co said, "Tender norms laid down by NACIL have not been adhered to and have been relaxed to the disadvantage of two bidders."
NACIL is the holding company of Air India.
Three bidders -- a consortium of four public sector insurers New India Assurance Co Ltd (NIACL); ICICI Lombard and another consortium of private players led by Reliance General -- were in the fray for the fleet insurance programme.
08/09/09 Indian Express

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Categories: NACIL Sep 2009