Centre set to wait for NCLAT ruling for Pawan Hans sale, hearing on Sept 1

The Centre will wait for the National Company Law Appellate Tribunal’s (NCLAT’s) observations and order on the appeal filed by the winning bidder of Pawan Hans. Only after this would it decide whether the public sector undertaking (PSU) will be handed over to the private player or fresh bids would be invited.

The government’s decision is based on the recommendation of its transaction adviser. It said the Centre should wait for the order on the appeal filed by the successful bidder of Pawan Hans-Almas Global Opportunity Fund. The next hearing of the case is on September 1.

Almas Global had