CA, insurance agent, now Air India bidder…a trail of many questions
Information accessed from the Registrar of Companies shows that Palaypu has been a director in three companies. Two of these, Lakhi Investment Management Services and ISBN Securities Pvt Ltd, have already been struck off. Updated: December 17, 2020 1:37:17 pm
This is the Government’s second attempt at disinvesting its stake in the airline after the previous move in 2018 ended up without a bid.
LAXMI PRASAD PALAYPU, Chairman of US-based Interups Inc who has made a series of acquisition bids through the NCLT this year and recently
submitted an Expression of Interest for Air India disinvestment says he plans to invest around $9 billion in the Indian aviation sector. A scrutiny of the deals the company claims to be ‘pursuing’ in India, however, shows a patchy, if not a poor, record.
Air India/ representational image
Interups, a US-based fund on Tuesday said it has Rs 13,500 crore as available capital for investment in Air India. The company is all set to invest billions of dollars in the Indian aviation sector, as reported by a Business Standard today.
With a market capitalisaton of only $28 million, the US OTC-listed firm has already bid for several bankrupt companies in India including Lavasa Corporation, Asian Colour Coated Steel and Reliance Naval.
It has not won a single company yet and lenders say they want to see how Interups will arrange for funds for its acquisitions in India before taking any call on its bids.
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Air India disinvestment | Interups says it has Rs 13,500 crore ready, may invest billions of dollars
Interups is even planning to hold 49 percent stake after the Union government sells its stake, as Air India employees have bid for 51 percent stake. December 15, 2020 / 06:15 PM IST
The government has offered for sale its 100 percent stake in AI and AI Express and the entire 50 percent in ground handling joint venture AI-SATS
With the deadline for submission of formal bids closed at 5 pm on December 14, US-based fund Interups stated that it has Rs 13,500 crore as available capital for investment in Air India. The US OTC-listed firm even noted that it is ready to invest billions of dollars in the Indian aviation sector.
Air India में निवेश के लिए 13,500 करोड़ रुपये तैयार, एयरलाइंस में करोड़ों डॉलर कर सकते हैं इनवेस्ट: Interups Inc Air India bidding, Interups Inc says it has Rs 13,500 crore ready for Air India, can invest billions dollar moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.