10 Sep , 2021 By : monika singh
An NRI businessman who has qualified to bid for
Shipping Corporation of India
(SCI) has a family history of bankruptcy, a reason for disqualification of applicants who wish to participate in the privatisation of the state-owned vessel operator, as per an information document issued by the government on December 22, 2020.
London-based Ravi Mehrotra, who is the founder of Foresight Group that also owns Pavers England footwear brand in I ..
Foresight Group’s website states that it is “a strategically diverse family-owned business”.
Ravi Mehrotra denied his son had anything to do with his company’s affairs when contacted by ET. Moreover, he claimed that Saurabh Mehrotra’s bankruptcy was not a criteria for disqualification as the criteria only applies to promoters of companies. He also noted that his company’s directors were not allowed to act “singly or individually”.
“Mr Saurabh Mehrotra is my son who is a 50 year ..
Mehrotra claimed the matter of SaurabhMehrotra’s bankruptcy does not affect his company’s bid for Shipping Corporation of India.
“Mr Saurabh Mehrotra’s bankruptcy matter does not in any way affect Foresight Group’s participation in the SCIdisinvestment process, as he is not a promoter of either Foresight Group or the consortium members from the Foresight Group. The disqualification regarding bankruptcy is only applicable to the consortium members and/or any promoter of an interested par ..
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