Why was Pawan Hans disinvestment called off?

The government's long pending plan to sell its stake in Pawan Hans has hit a major roadblock.

Adverse orders of NCLT and NCLAT and complaint by IBBI against a consortium member, AGOF led to initiation of the process to disqualify the successful bidder with show cause notice. Based on the response, the government disqualified Star 9 Mobility Pvt Ltd. Also, EoI process for strategic disinvestment was annulled.

The government has set a target of ₹51,000 crore to be mobilised through all forms of disinvestment and till date, it has managed to collect over ₹4,200 crore (mainly from selling part of its stake in Coal India). The disqualification of successful bidder in PHL, after four attempts, is certainly a setback and the second case of disqualification after Central Electronics.

However, the government hopes to complete strategic disinvestment of IDBI Bank, Shipping Coproration and CONCOR beside some others.

Chapters:
00:00 - 00:27 - Introduction
00:29 - 00:35 - Stakes in Pawan Hans
00:35 - 02:09 - Divestment of Pawan Hans
02:09 - 03:34 - Disqualification of bidding
03:34 - 06:16 - Impact on the Centre’s divestment for FY24

Read the full story here:

Credit
Reporter: Shishir Sinha
Producers: Darshan Sanghvi, Nabodita Ganguly and Jayapriyanka J

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