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The Times of India

Business

Saurabh Sinha | TNN

Pawan Hans winning bidder fund appeals against NCLT order in another case due to which divestment put on hold

NCLT Pawan Hans EMC NCLAT Kolkata New Delhi

NEW DELHI: Cayman Island-based Almas Global Opportunity Fund SPC (AGOF) on Tuesday said it is moving NCLAT against an adverse ruling from a NCLT Bench in the revival of a Kolkata-based firm EMC Ltd.

When the government discovered that adverse ruling of April 30, 2022, it on Monday decided to keep the privatisation of Pawan Hans on hold as Almas is a 49% stakeholder of the winning consortia.

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