Govt calls off strategic sale of helicopter service provider Pawan Hans
The government on Monday called off the strategic disinvestment of helicopter service provider Pawan Hans as the winning bidder – Star9 Mobility – was disqualified due to pending legal cases against it.
In April last year, the government had decided to sell Pawan Hans for Rs 211.14 crore to Star9 Mobility, a consortium of Big Charter Pvt Ltd, Maharaja Aviation Pvt Ltd and Almas Global Opportunity Fund SPC. Pawan Hans is a joint venture between the government and ONGC, which hold 51% and 49% stakes in the company.
