Winning bidder Star 9 Mobility disqualified: BPCL, CEL & now Pawan Hans – privatisation plans flounder financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
This is the fourth time since 2016 that the government has tried to sell Pawan Hans. The Cabinet Committee on Economic Affairs approved the strategic disinvestment of Pawan Hans in October 2016. As per the new public sector enterprises policy, the Centre can even look at closing down the company, should attempts to divest it fail.
Even as Almas Global expressed surprise at the NCLT ruling, legal experts say the development may have its fallout in the Star9 Consortium’s winning bid for Pawan Hans being disqualified.
The government has put on hold the sale of Pawan Hans as it is legally examining an NCLT order against Almas Global, which is the biggest shareholder in the winning consortium, an official said on Monday.