: Pawan Hans undervalued, divestment raises many questions, doubts: KTR #IndiaNEWS #News Hyderabad: Even as the Central government last week approved the sale of its stake in Pawan Hans to private company,
Pawan Hans undervalued, divestment raises many questions, doubts: KTR #IndiaNEWS #News
Hyderabad: Even as the Central government last week approved the sale of its stake in Pawan Hans to private company, IT and Industries Minister KT Rama Rao said the deal raises many questions and doubts.
Pawan Hans is a Government-owned-helicopter service provider based at Noida, under the ownership of the Ministry of Civil Aviation. It has cumulatively flown more than one million hours and has had 2. 5 million landings of its fleet since its formation.
In a tweet, Rama Rao pointed out that Pawan Hans was valued at Rs 3,700 crore in 2017 and its paid-up equity share capital was Rs 245. 61 crore. “Then how come the stake was sold at Rs 211 crore? Any answers NPA Government? Rama Rao sought to know.
The BJP government at the Centre last week approved the sale of its stake in Pawan Hans along with transfer of management control to an entity called Star9 Mobility. The stake sale pegs Pawan Hans total value at Rs 414 crore. Star9 was incorporated on October 29 last year. It mentions its industry as ‘Support and auxiliary transport activities; activities of travel agenciep&KH[ؚ[] x&]]ܚY][
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