CA, insurance agent, now Air India bidder… a trail of many questions
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.
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.
