The government on Monday decided to call off the strategic divestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases. Pawan Hans is a 51:49 joint venture of the government and ONGC. The government had in April last year decided to sell the helicopter service provider for Rs 211.14 crore to Star9 Mobility Pvt Ltd -- a consortium of Big Charter Private Ltd, Maharaja Aviation Private Ltd and Almas Global Opportunity Fund SPC.
The move will help increase participation of retail investors, providing momentum to the primary market.
Proposals for listing of AAI and Pawan Hans have been made in the Draft Civil Aviation Policy, released by Raju.
Trinamool Congress on Wednesday wrote a letter to the Election Commission asking how BJP leader Narendra Modi and Congress President Sonia Gandhi could use Pawan Hans helicopters for public meetings contrary to its instructions, even as party chief Mamata Banerjee had to cancel a trip to Assam for lack of one.
The disappointment of the year is government's failure in finalising the re-drafted aviation policy.
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