Mauritian Wadia group may play role in Go First saga
New Delhi: A Mauritius-based Wadia group company that together with its affiliates indirectly holds a stake in Britannia Industries could take centre stage in a face-off between Go First’s bankers – some of whom want collateral provided by that company overseas for loans taken by the airline to be included in a common security pool, according to sources.
The bankers’ consortium of Go First that comprises public sector banks believes the collateral provided by Wadia group company, Mauritius-based Leila Lands Limited (LLL), for loans that Go First obtained from Deutsche Bank (DB) is disproportionately greater in value to the security that was provided to them for loans that they advanced to the airline, the sources said.
