Air India on Thursday came back to the Tata Group as the historic divestment process was finally completed with all formalities concluding successfully. Chairman of Tata Sons N Chandrasekharan met Prime Minister Narendra Modi as the officials started the final handover procedure at the Air India office in New Delhi.

The old members of the board stepped down making place for the new board to take over in the first landmark privatisation move in the last decade. 

The Tata Group issued a statement acknowledging PM Modi's commitment to reforms and faith in India's entrepreneurship spirit, which made this historic transition possible. "Our Prime Minister has in action demonstrated what his commitment to minimum government, maximum governance means."