Hindujas Out Of Race For A-I, Ia

In accordance with the norms of disqualification for advisors and bidders for participating in the process of disinvestment, the government today barred the Hindujas from taking part in the divestment of Air-India (A-I) and Indian Airlines (IA) on security grounds.

Videocon and Sterlite Industries have been barred from the bidding process of IA and Hindustan Zinc Limited (HZL) respectively, on economic grounds.

BPL will, however, be allowed to continue in the race for Videsh Sanchar Nigam Ltd (VSNL) as the group company which has submitted the expression of interest (EoI) is not the one named in the Securities and Exchange Board of India (Sebi) order.

 

No final decision was taken on the issue of disqualification of Credit Suisse First Boston (CSFB) from the position of advisor for VSNL.