On Tuesday, a Pawan Hans helicopter of Oil and Natural Gas Corporation (ONGC) with nine people on board crashed into the Arabian Sea, around 50 nautical miles from the Mumbai coast.
The Union government has called off its privatisation process for high-profile Bharat Petroleum Corporation (BPCL) following 2 of the 3 bidders backing out.
Blaming the company for taking the insolvency resolution “process for a ride”, the tribunal has sought action against its management under the Insolvency and Bankruptcy Code.
The National Company Law Tribunal (NCLT) had last month passed an order reportedly after Almas Global failed to make payments to creditors of a Kolkata-based company.
Congress spokesperson Gourav Vallabh said that in the series of miscalculated and injudicious disinvestment decisions to justify their financial policies, "they are committing a series of blunders".
ONGC had earlier decided to offer its entire shareholding to the successful bidder identified by the government on the same price and terms.
However, a JSPL official on the condition of anonymity has denied that the Naveen Jindal-owned company is in the race for the public sector helicopter services company.