Govt puts Pawan Hans sale on hold
May 16, 2022 19:17
The government has put on hold the sale of Pawan Hans as it is legally examining an National Company Law Tribunal (NCLT) order against Almas Global, which is part of the winning consortium, an official said on Monday.
"We will do a legal examination of the NCLT order before proceeding further. Letter of Award has not been issued," the official said.
Last month, the government selected M/s Star9 Mobility Pvt Ltd, a consortium of M/s Big Charter Private Limited, M/s Maharaja Aviation Private Limited and M/s Almas Global Opportunity Fund SPC, as the winning bidder for Pawan Hans.
Star9 Mobility had quoted Rs 211.14 crore for Pawan Hans, which was above the Reserve Price of Rs 199.92 crore fixed by the government on the basis of valuation carried out by the transaction adviser and asset valuer.
The NCLT had last month passed an order reportedly after Almas Global failed to make payments to creditors of a Kolkata-based company under an approved resolution plan. -- PTI
TOP STORIES
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances