EMC case: Pawan Hans bidder initiates process to appeal against NCLT order
Almas Global Opportunity Fund SPC (AGOF), part of the consortium that won the bid for Pawan Hans, on Tuesday said it has initiated the process to appeal against an NCLT order with respect to the fund acquiring bankrupt EMC.
The statement from the Cayman Islands-based fund comes a day after the government decided to put on hold the sale of Pawan Hans as it was legally examining the NCLT order against AGOF.
Almas Global is the biggest shareholder in the consortium — Star9 Mobility —that was selected as the winning bidder for Pawan Hans. Other members in the consortium are Big Charter and Maharaja Aviation.
