SBI set to buy Air India properties in Mumbai
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MUMBAI/NEW DELHI: Country's largest lender State Bank of India has received all necessary approvals to buy residential properties of cash-starved national carrier Air India, in south Mumbai for Rs 90 crore.
"SBI is now waiting for the airline to complete its side of approvals," sources close to development said. SBI plans to allocate these flats to its top executives of the rank of deputy managing directors and general managers.
The airline had been looking for buyers who can purchase its four flats at upmarket Peddar Road in south Mumbai for last two years. In August 2013, it had floated bids for e-auctioning of four 3-BHK flats of 2,033 sq ft carpet area each.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
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