The successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases. Pawan Hans is a 51:49 joint venture of the government and ONGC.
Hyderabad: The hush-hush sale of Pawan Hans by the BJP-led government has run into rough weather with the National Company Law Tribunal (NCLT) passing an order last month against Almas Global for failing to make payments to creditors of a Kolkata-based company under an approved resolution plan. Cayman Island-based Almas Global Opportunity Fund SPC (AGOF) […]
Hyderabad: A company with total assets of Rs 1,327.4 crore, Gross Carrying Value of Rs 1,124.6 crore, total revenues of Rs 401.71 crore, massive blocks of real estate, a sound business plan in place till 2026 and union government holding 51 per cent stakes in the company. Sounds like a hunky dory business situation, right? […]
Hyderabad: Even as the Central government last week approved the sale of its stake in Pawan Hans to private company, IT and Industries Minister KT Rama Rao said the deal raises many questions and doubts. Pawan Hans is a Government-owned-helicopter service provider based at Noida, under the ownership of the Ministry of Civil Aviation. It […]
