New aircraft parts worth more than Rs 10 lakhs and non-aircraft parts worth more than Rs 5 lakh will now be procured only after the approval of the either Director Finance or Executive Director Finance, Air India said on Sunday.
Moreover, the airline in an order stated that if the repair of aircraft parts is going to cost more than Rs 10 lakh, it has to be first approved by the Executive Director Engineering.
This order was issued by Air India’s Director, Finance, Vinod Hejmadi after Civil Aviation Secretary Rajiv Bansal stated that the airline’s disinvestment exercise is likely to complete within the next 10 weeks and only necessary revenue and capital expenses should be carried out till then.
Bansal also holds the charge of Chairman and Managing Director of Air India.
The airline’s order stated that “procurement of new aircraft parts” and “procurement of non-aircraft parts” — which are of more than Rs 10 lakh cost — must be done after the approval of “Director Finance or Executive Director Finance”.
“All other contracts valuing under Rs 10 lakhs would be issued with the approval of regional MM (Materials Management) Head,” the order which has been accessed by PTI stated.
On October 8, the Centre announced that Talace Private Limited, a wholly-owned subsidiary of Tata Sons, has beaten a consortium led by SpiceJet promoter Ajay Singh by offering Rs 18,000 crore to win the bid to acquire debt-laden Air India.
The airline’s order also said that the “repair of aircraft components”, if it costs more than Rs 10 lakh, must be approved by the Executive Director Engineering.
“All other contracts valuing under Rs 5 lakh would be issued with the approval of regional engineering head,” it added.
17/10/21 PTI/Financial Express
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment