12,352.35-3.15
Stock Analysis, IPO, Mutual Funds, Bonds & More

Govt clears Mazagon Dock for selecting Pipavav as partner for a joint venture

The defence ministry has absolved state-owned Mazagon Dock of any wrongdoing in selecting Pipavav as its partner for a joint venture.

, ET Bureau|
Updated: Oct 10, 2011, 04.16 AM IST
0Comments
MUMBAI: The defence ministry has absolved state-owned Mazagon Dock of any wrongdoing in selecting Pipavav as its partner for a joint venture that was put on hold following complaints from rivals of the Nikhil Gandhi-owned company.

“The process of selection of a partner (by Mazagon Dock) was not done with any mala fide intent. Mazagon dock followed the due process while selecting the partner,” secretary (defence production) Shekhar Agarwal said.

Pipavav rivals, including L&T and ABG Shipyard, had complained to the ministry last month that the process followed by Mazagon to select Pipavav was not transparent. They had alleged that the state-owned shipyard had set no deadlines for submitting the proposals and did not disclose the evaluation criteria.

Also Read

Mazagon Dock gets Sebi go-ahead to float IPO

Mazagon Dock Shipbuilders can bid for Rs 40k cr submarine contract

L&T opposes plan to give submarine project to Mazagon Dock

KELTRON bags Rs 4.38 crore order from Mazagon Docks

Mazagon Dock Ltd likely to get fresh orders after Scorpene

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service