The Centre has disqualified the winning bidder-consortium Star 9 Mobility, citing “integrity issues,” and annulled the process of strategic disinvestment of helicopter operator Pawan Hans (PHL), reflecting many a slip between cup and lip in its efforts to privatise state-owned firms. This was the second “strategic disinvestment” process to have been repealed in the last two years after the winning bidder was identified.
In September 2022, the government terminated the sale of its 100 per cent stake in Central Electronics (CEL) and disqualified the successful bidder Nandlal Finance and Leasing Private, again due to certain allegations against the firm and the bidding process.
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