Preparing to checkout: AI finalising ‘leave encashment valuation’ | India News – Times of India
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NEW DELHI: Preparations for Air India’s divestment, with a new owner expected to take over by the end of this fiscal, are in full swing. The government has asked the airline to finalise its H1 FY 2021-22 accounts “on a priority basis”. An exercise is on to calculate leave encashment liability at the earliest for which employees have been asked to update their leave records by the month-end.
“The (leave encashment) liabilities so accounted as of September 30, 2021, will be considered final. Accordingly, it is requested each and every employee is advised to correctly update their leave details immediately,” says a communication to departmental heads.
The Tata Group and a consortia of SpiceJet promoter Ajay Singh (who has bid in his personal capacity) have submitted their financial bids. The winner is likely be announced shortly. While the government is keen on the new owner taking control by the end of the calendar year, that process may take upto the end of this fiscal.
“The (leave encashment) liabilities so accounted as of September 30, 2021, will be considered final. Accordingly, it is requested each and every employee is advised to correctly update their leave details immediately,” says a communication to departmental heads.
The Tata Group and a consortia of SpiceJet promoter Ajay Singh (who has bid in his personal capacity) have submitted their financial bids. The winner is likely be announced shortly. While the government is keen on the new owner taking control by the end of the calendar year, that process may take upto the end of this fiscal.
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