The government decided to call off the strategic disinvestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified because of pending legal cases on Monday.
Star9 Mobility won the bid to acquire Pawan Hans in April last year by quoting over Rs 211 crore for a 51 per cent stake of the government. The loss-making helicopter firm is a 51:49 joint venture of the government of India and ONGC.
