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DGIR issues notices to Jet, Sahara

DGIR is looking into the Rs 2,300 crore deal to check whether it has resulted in creating monopoly in aviation sector.
None | By Press Trust of India, New Delhi
PUBLISHED ON MAR 21, 2006 04:12 PM IST

Carrying forward its probe into the Rs 2,300 crore buyout of Air Sahara by Jet Airways, the Director General (Investigations and Registrations) has issued notices to both the air carriers seeking details of the proposed acquisition.

The DGIR, the investigating arm of Monopolies and Restrictive Trade Practices Commission (MRTPC), is looking into the mega deal to check whether it has resulted in creating a monopoly in the Indian aviation sector.

"Notices have been issued to both the air carriers and they have been given around a week's time to file their reply," ministry sources said.

The probe by MRTPC runs parallel to the efforts by Jet to get a final nod from the government on the buyout.

Faced with a March 24 deadline for finalising the deal, there are apprehensions that the carrier may have to seek an extension in the deadline or else the deal could come a cropper.

Asked whether the DGIR could also approach the Registrar of Companies (RoC) to seek details of the board meetings regrading the sale and purchase process, the sources said it could be a possibility.

"However, all these aspects are being looked into," they said.

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