The Public Enterprises Selection Board (PESB), Government of India, has invited online applications for the post of Chairman and Managing Director (CMD) in AI Assets Holding Limited (AIAHL) under Advertisement No. 88/2026, issued on 20.08.2026. AIAHL is a 100% Government-owned Special Purpose Vehicle that holds and monetises the transferred assets of Air India and acts as the holding company for AI Airport Services Limited, AI Engineering Services Limited, Alliance Air Aviation Limited and Hotel Corporation of India Limited. Serving officers from CPSEs, Central Government, public sector banks, State PSEs and large private companies who meet the eligibility conditions can apply online on the PESB portal up to 3:00 PM on 10.09.2026.
Recruitment Overview
| Post Name | Chairman and Managing Director (CMD) |
| Organization | Public Enterprises Selection Board (PESB), Government of India — for AI Assets Holding Limited (AIAHL) |
| Notification / Advertisement No. | Advt. No. 88/2026 (File No. 6/16/2026-PESB), dated 20.08.2026 |
| Location | All India / Central Govt |
| Total Vacancies | 01 (Chairman and Managing Director) — category-wise breakup not specified in notification |
| Qualification | Engineering Graduate or Chartered Accountant or Cost Accountant or Post Graduate or Graduate with MBA / PGDIM from a recognised institute |
| Age Limit | Minimum 45 years as on the date of vacancy (01.07.2027); maximum is set by residual service — 2 years for internal candidates and 3 years for others, against the age of superannuation of 60 years Check your age eligibility → |
| Selection Process | Online application through proper channel → Forwarding by nodal officer / competent authority → Shortlisting by PESB → Interview by PESB |
| Pay Scale | Rs. 1,80,000 – 3,20,000 per month (IDA pay scale), Schedule B board-level post |
| How to Apply | Apply online only on the PESB portal, then get the application forwarded online by your nodal officer / competent authority |
| Official Notification | Download Job Description PDF (Advt. No. 88/2026) |
| Official Website / Apply Online | PESB Online Application Portal |
Important Dates
| Event | Date |
|---|---|
| Job Description uploaded on PESB website (notification date) | 20.08.2026 |
| Online application window | 30 days from the date of uploading the Job Description on the PESB website |
| Last date for submission of online application by the applicant | 10.09.2026 (up to 03:00 PM) |
| Last date for nodal officer / competent authority to forward the application online | 21.09.2026 (up to 05:00 PM) |
| Date of occurrence of vacancy (DOV) — reference date for age and eligibility | 01.07.2027 |
Vacancy Details
| Post | Company | Schedule | No. of Posts |
|---|---|---|---|
| Chairman and Managing Director | AI Assets Holding Limited (AIAHL) | Schedule B | 01 |
Note: This is a board-level post advertised by PESB against a single vacancy arising on 01.07.2027. The notification does not give a category-wise (UR / OBC / EWS / SC / ST) breakup.
Application Fee
Not specified in notification. The Job Description for Advt. No. 88/2026 does not prescribe any application fee for this post.
Eligibility Criteria
| Educational Qualification | Engineering Graduate or Chartered Accountant or Cost Accountant or Post Graduate or Graduate with MBA / PGDIM from a recognised institute |
| Experience (Option 1) | Cumulative experience / exposure of at least 5 years during the last 10 years in Finance or Business Development or Production or Operations or Marketing or Project Management or Corporate Law in a large organisation of repute. Experience in monetisation of assets / financial accounting is an added advantage. |
| Experience (Option 2) | Cumulative experience of at least 5 years in core HR / IR / Personnel Management, along with at least 3 years cumulative experience during the last 10 years in Finance or Business Development or Production or Operations or Marketing or Project Management or Corporate Law in a large organisation of repute. |
| Age Limit | Age of superannuation is 60 years. Minimum 45 years on the date of vacancy; the maximum is governed by residual service (see the table below). Check your age eligibility → |
| Employment Status | On the date of application and on the date of interview, the applicant must be employed in a regular capacity (not contractual or ad-hoc) in a CPSE, or as a Central Government Group A officer (including Armed Forces and All India Services) or an officer of a Public Sector Bank / Financial Institution / Autonomous Body, or in a State PSE with annual turnover of Rs. 750 crore or more, or in a private company / JV / national or state level cooperative federation with annual turnover of Rs. 750 crore or more. |
| Minimum Service in Eligible Scale | One year for internal candidates and two years for others, as on the date of vacancy. |
| Absorption Condition | Central Government officers, including those of the Armed Forces of the Union, All India Services, and officers from Public Sector Banks / Financial Institutions / Autonomous Bodies, are eligible only on immediate absorption basis. |
| Turnover Rule | For SPSEs, private companies, JVs and federations, the average audited annual turnover of the three financial years preceding the calendar year in which the post is advertised is taken. Preference is given to candidates from listed companies; private company / JV / federation applicants are arranged in order of annual turnover. |
Age Criteria (as on the date of vacancy, 01.07.2027)
| Applicant Type | Minimum Age | Maximum Age |
|---|---|---|
| Internal candidates (from AIAHL) | 45 years | Must have at least 2 years of residual service as on the date of vacancy, with reference to the date of superannuation (60 years) |
| Others (external candidates) | 45 years | Must have at least 3 years of residual service as on the date of vacancy, with reference to the date of superannuation (60 years) |
Eligible Pay Scales — Central Public Sector Enterprises
| # | Eligible Scale of Pay |
|---|---|
| i | Rs. 7250 – 8250 (IDA) Pre 01/01/1992 |
| ii | Rs. 9500 – 11500 (IDA) Post 01/01/1992 |
| iii | Rs. 20,500 – 26,500 (IDA) Post 01/01/1997 |
| iv | Rs. 51300 – 73000 (IDA) Post 01/01/2007 |
| v | Rs. 1,20,000 – 2,80,000 (IDA) Post 01/01/2017 (E8 Grade as per DPE guidelines issued from time to time) |
| vi | Rs. 18400 – 22400 (CDA) Pre-revised, Post 01.01.1996 |
| vii | Rs. 37400 – 67000 + GP 10000 (CDA) Post 01/01/2006 |
| viii | Rs. 1,44,200 – 2,18,200 (Level 14) (CDA) Post 01/01/2016 |
Eligible Level — Applicants Other Than CPSEs
| Applicant Category | Level Required on the Date of Application |
|---|---|
| Group A officers of the Central Government, All India Services, Autonomous Bodies | Holding a post of the level of Joint Secretary to the Government of India, or an equivalent post carrying an equivalent scale of pay, on a substantive basis. Officers drawing the eligible pay scale only through Non-Functional Upgradation (NFU) or Next Below Rule (NBR), without holding a substantive post, are not eligible. |
| Public Sector Banks / Financial Institutions | Must be at Board level for one year on the date of application. |
| Armed Forces of the Union | Must be holding a post of the level of Major General in the Army, or an equivalent rank in the Navy or Air Force, on the date of application. |
| State PSEs / Private Companies / JVs / Federations | Must be working at Board level positions on the date of application. |
Selection Process
| Stage | Details |
|---|---|
| Stage 1 — Online Application | The applicant fills the application form online, against this specific Job Description, on the PESB website. Applications sent to PESB in physical form or by e-mail are rejected outright. Deadline: 10.09.2026, 03:00 PM. |
| Stage 2 — Forwarding Through Proper Channel | Except applicants from private companies (who apply directly to PESB), every application must be forwarded online by the appropriate authority: cadre controlling authority for Central Government / Armed Forces / All India Services officers; the administrative ministry or department for Public Sector Bank, Financial Institution and Autonomous Body officers; the concerned administrative ministry or department for CMDs, MDs and Functional Directors of CPSEs; the concerned CPSE for below-board-level CPSE officers; the concerned Administrative Secretary and cadre controlling authority for State PSE board members; and the nodal officer or competent authority for JV and Federation applicants. Deadline: 21.09.2026, 05:00 PM. |
| Stage 3 — Vigilance Clearance | The cadre controlling or competent authority must forward only applications of candidates who are clear from the vigilance angle, per DPE guidelines (latest OM No. 15(2)/2001-DPE (GM)-FTS-4199 dated 28.10.2025). The vigilance profile in the 13-point proforma prescribed by CVC (circular no. 10/09/24 dated 06.09.2024) must be attached with the application form. |
| Stage 4 — Shortlisting by PESB | The Board reserves the right to shortlist applicants for interview, keeping in view the extant guidelines issued from time to time. Not every eligible applicant is called. |
| Stage 5 — Interview by PESB | Shortlisted candidates appear before the Public Enterprises Selection Board for interview. The Board then makes its recommendation for appointment to the post of Chairman and Managing Director, AIAHL. |
Salary and Benefits
| Pay Scale | Rs. 1,80,000 – 3,20,000 per month (IDA pay scale) |
| Pay Pattern | Industrial Dearness Allowance (IDA) pattern |
| Schedule of the CPSE | Schedule B |
| Nature of Post | Board-level post — Chief Executive of the Company, accountable to its Board of Directors and to the Government, and also Chairman of the subsidiary companies under AIAHL |
| Duration of Appointment | Five years from the date of joining, or up to the date of superannuation, or until further orders — whichever is earlier |
| Other Allowances and Perks | Not specified in notification — board-level CPSE perquisites and allowances are governed by DPE guidelines applicable from time to time |
How to Apply
- Visit the PESB website at pesb.gov.in and open the Advertised Vacancies page.
- Open the Job Description for AI Assets Holding Limited — Chairman and Managing Director (Advt. No. 88/2026) and read the eligibility conditions carefully.
- Register or log in on the PESB online portal and fill the application form online, against this Job Description only.
- Attach the supporting documents your category requires — including the CVC 13-point vigilance profile proforma — and submit the application online by 03:00 PM on 10.09.2026.
- Follow up with your nodal officer / cadre controlling authority / competent authority so that they forward your application online to PESB by 05:00 PM on 21.09.2026. Applicants from private companies apply directly to PESB and do not need this forwarding.
Note: Applications forwarded to PESB in physical form or through e-mail shall be rejected. Incomplete applications, and applications not received online within the stipulated date, shall also be rejected. No application will be entertained under any circumstances after the stipulated date. The link for registration of nodal officers / competent authorities is available on the PESB website.
Documents Required
| Document | Format / Notes |
|---|---|
| Vigilance profile in the CVC 13-point proforma | Prescribed by CVC circular no. 10/09/24 dated 06.09.2024 — must invariably be attached with the application form by the forwarding authority |
| Self-attested copies of documents in support of age and qualifications | Required from applicants of private companies, JVs and federations |
| Annual Reports of the last three financial years of the organisation currently worked in | Required from private company, JV and federation applicants — provide the URL or attach copies |
| Documentary proof that the private company is listed | Required from private company applicants — provide the URL or attach copies; preference is given to candidates from listed companies |
| Evidence of working at Board level | Required from private company, JV and federation applicants |
| Details of relevant jobs handled in the past | Required from private company, JV and federation applicants |
| Undertaking that the applicant will join the post if selected | Mandatory part of the application — the application is rejected if this undertaking is not given |
Important Links
| Download Official Notification (PDF) | Job Description — Advt. No. 88/2026 |
| Short Advertisement (English) | Download English Short Notice PDF |
| Short Advertisement (Hindi) | Download Hindi Short Notice PDF |
| Apply Online / Official Website | PESB Online Application Portal |
| PESB Official Website | pesb.gov.in |
| Join Telegram Channel | Join Telegram Channel |
| Join WhatsApp Channel | Join WhatsApp Channel |
Common Mistakes to Avoid
- Do not send the application to PESB in physical form or by e-mail — only the online application against this specific Job Description is accepted, and anything else is rejected.
- Do not treat 10.09.2026 as the only deadline that matters; if your nodal officer or competent authority does not forward the application online by 05:00 PM on 21.09.2026, your candidature lapses.
- Do not apply if you are working in a contractual or ad-hoc capacity — the notification requires regular employment both on the date of application and on the date of interview.
- Do not assume Non-Functional Upgradation (NFU) or Next Below Rule (NBR) pay counts — Central Government applicants must hold a Joint Secretary level post on a substantive basis.
- Do not skip the CVC 13-point vigilance profile proforma; an application forwarded without it is incomplete and liable to rejection.
- Do not accept the interview call lightly — conveying unwillingness to join after the interview, or after the offer of appointment, leads to a two-year debarment from board-level posts in CPSEs.
Frequently Asked Questions
1. What is the last date to apply for the PESB AIAHL Chairman and Managing Director post?
Online applications must be submitted by 03:00 PM on 10.09.2026, and nodal officers must forward them online by 05:00 PM on 21.09.2026.
2. How many vacancies are there in this notification?
There is one board-level vacancy — Chairman and Managing Director of AI Assets Holding Limited — arising on 01.07.2027.
3. What qualification is required for this post?
The applicant must be an Engineering Graduate, or a Chartered Accountant, or a Cost Accountant, or a Post Graduate, or a Graduate with an MBA or PGDIM from a recognised institute.
4. What is the age limit for AIAHL CMD Advt. No. 88/2026?
The minimum age is 45 years on the date of vacancy, and the applicant must have at least 2 years (internal candidates) or 3 years (others) of residual service left before superannuation at 60 years.
5. Is there any application fee?
No application fee is specified in the Job Description for Advt. No. 88/2026.
6. How do I apply for this PESB post?
Fill the application form online against this Job Description on pesb.gov.in, and then have your nodal officer or competent authority forward it online to PESB within the prescribed date.
7. What is the selection process?
Applications forwarded through proper channel with vigilance clearance are shortlisted by PESB, and shortlisted candidates are then called for an interview before the Board.
8. What is the salary and tenure of the AIAHL Chairman and Managing Director?
The pay scale is Rs. 1,80,000 – 3,20,000 per month on the IDA pattern, and the appointment is for five years from the date of joining or up to superannuation or until further orders, whichever is earlier.
Disclaimer: The information above has been compiled from the official notification for the convenience of job seekers. Candidates are advised to verify all details from the official website before applying.
