Chennai: Air India’s plan to sell a 1.33-acre property in Chennai was not finalised because the bidders did not meet price expectations, according to reliable sources.
Three bidders — two public sector Enterprises and one corporate entity — participated in an e-auction conducted on Tuesday by MSTC, a service provider for Air India.
But the deal did not go through as the bids were nowhere near the seller’s expectations. However, a specific reserve price had not been set, said a source.
Air India had been expecting well over 100 crore for the land measuring about 58,000 sq. ft.
23/01/14 R Balaji/Business Line
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Three bidders — two public sector Enterprises and one corporate entity — participated in an e-auction conducted on Tuesday by MSTC, a service provider for Air India.
But the deal did not go through as the bids were nowhere near the seller’s expectations. However, a specific reserve price had not been set, said a source.
Air India had been expecting well over 100 crore for the land measuring about 58,000 sq. ft.
23/01/14 R Balaji/Business Line
