MUMBAI: Jawaharlal Nehru Port Trust and the Life Insurance Corporation of India and have placed bids to buy cash-strapped Air India’s iconic 23-storey tower located at Mumbai’s Marine Drive in Nariman Point facing the Arabia sea.

A Shipping Ministry official said that JNPT, India’s biggest Container Port, has put in a bid to buy the tower from the national carrier. An earlier plan to sell the tower to JNPT without a tender was called off to avoid allegations of irregularities.