• PAGE ONE
• INDEX
• HOME

We've not infringed guidelines: Hindujas

Ashwini Phadnis

NEW DELHI, Aug. 9

RESPONDING to the show-cause notice issued by the Government, the Hinduja group has said that there is no reason for it being debarred from picking up a stake in public sector entities.

Sources said that the Hindujas, in their reply, have rebutted the various charges and pointed out to the Department of Disinvestment (DoD) that the group has in no way infringed the guidelines issued for disqualification since they have not been chargesh eeted but only have a police report filed against them.

On the issue of the bid being rejected as the group was under investigation, sources said that the group was not ``aware'' of any such investigation.

``None of the three members of the consortium -- GP, SP and Ashok -- have been chargesheeted, therefore there is no question of the guidelines applying. Besides, even if the group is under investigation, the guidelines state that they should be chargeshe eted which the three members have not,'' sources said.

The Hindujas were among the parties which were interested in picking up a stake in Indian Airlines and Air India, before their bid was disqualified as it did not comply with the guidelines laid down by the Government. While the Hindujas are the only part y left in the fray to pick up a stake in IA, they are likely to face competition from the Tata-Singapore Airlines (SIA) combine which is also in the race to pick up a stake in AI.

``The ball is now in the Government court. It is for them to say whether we are in the race or not. However, it needs to be noted that we have completed the process of due diligence for both the airlines,'' sources said.

The Hindujas have all along maintained that they will not drop out of the race for picking up a stake in the two state-run airlines.