After a botched attempt for sale of Pawan Hans, the government is likely to issue a fresh bid document by the end of this month and provide indemnity to the potential buyers against contingent liability of about Rs 500 crore in the helicopter service company.
The government has decided to make the bid document more attractive after discussions with investors on their concerns as the sale process of Pawan Hans failed to attract any suitor when bidding ended on March 6.
“The fresh preliminary information memorandum (PIM) would be issued by end of May. It has been decided to indemnify the investors of the contingent liability of Rs 500 crore which relates to disputed tax demand,” an official source told PTI.
