Govt places Pawan Hans sale on maintain over NCLT order towards profitable consortium member

The federal government has placed on maintain the sale of Pawan Hans as it’s legally inspecting an NCLT order towards Almas World, which is a part of the profitable consortium, an official stated on Monday. “We are going to do a authorized examination of the NCLT order earlier than continuing additional. Letter of Award has not been issued,” the official stated.

Final month, the federal government chosen M/s Star9 Mobility Pvt Ltd, a consortium of M/s Huge Constitution Personal Restricted, M/s Maharaja Aviation Personal Restricted and M/s Almas World Alternative Fund SPC, because the profitable bidder for Pawan Hans.

Star9 Mobility had quoted Rs 211.14 crore for Pawan Hans, which was above the Reserve Value of Rs 199.92 crore fastened by the federal government on the idea of valuation carried out by the transaction adviser and asset valuer.

The Nationwide Firm Regulation Tribunal (NCLT) had final month handed an order reportedly after Almas World didn’t make funds to collectors of a Kolkata-based firm below an accredited decision plan.
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