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karatecatman


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... and now SpiceJet and the "Mahajan link"
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Alleged link with Mahajan spoils party for SpiceJet
[ Monday, June 05, 2006 12:44:39 amTIMES NEWS NETWORK ]
 
 
NEW DELHI: Celebrations at SpiceJet for completing its first full year in the skies profitably, seems to have come to a rude halt.
And it's not an attack on its bottomlines from new rivals, but allegations about its funding by deceased BJP leader Pramod Mahajan and doubts over its future in view of Rahul Mahajan's critical clinical condition that's bothering this start-up.
Adding fuel to this volley of charges is the sudden absence of SpiceJet director Ajay Singh, known as a close ally to late Pramod Mahajan from his days as a minister in Atal Bihari Vajpayee's cabinet.
SpiceJet officials refuted the charges saying Singh's personal investment in the airline amounts to about Rs 10 crore, and the airline has been making operational profit for nearly four months now.
"There is no Mahajan funding in the airline and there are no doubts about SpiceJet's profitability or funding. These are just rumours," a SpiceJet official said.
While several calls on Singh's mobile went unanswered, SpiceJet officials said the director had left for London on an official engagement - probably to meet investors - and is on his way back on Sunday.
Incidentally, the market has been abuzz with reports of a growing rift between the airline director and Mahajan's family after the leader's demise.
But rumours over "dubious" funding in SpiceJet and that Singh was Mahajan's pointsman in the airline, have continued to trouble the start-up, despite it reporting profit.



-- Edited by karatecatman at 14:07, 2006-06-05

-- Edited by karatecatman at 16:48, 2006-06-05

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karatecatman


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RE: ... and now SpiceJet and the "Mahajan link"
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TIMES OF INDIA


'Vivek Moitra ... , says Pravin Mahajan'


June 6, 2006


"According to sources, it will not be long before the police begin questioning some of Pramod Mahajan's close associates, including businessman Sudhanshu Mittal, his additional private secretary Harish Sharma as well as Ajay Singh, director of SpiceJet and Mahajan's former officer on special duty (OSD).

"There are bound to be many unanswered questions in this investigation," said a senior police official.

For long the market has been agog with reports of a growing rift between the airline director and Mahajan's family after the latter's demise.

Incidentally, Ajay Singh, as OSD to Mahajan when he was minister in the Atal Bihari Vajpayee government, took a token Re.1 a month salary for his services."


 



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karatecatman


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No Mahajan money in SpiceJet
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No Mahajan money in SpiceJet, ex-aide confesses


June 08, 2006 
 
Times of India 


NEW DELHI: A former aide of Pramod Mahajan has repudiated reports that the late Bharatiya Janata Party (BJP) leader helped in funding SpiceJet or that his money was parked in the airline.


Ajay Singh, the former Officer on Special Duty (OSD) to Mahajan when he was minister in the Atal Bihari Vajpayee government and currently director of India's newest start-up private airline SpiceJet, sought to set the record straight in an exclusive interview following allegations that he had a bitter falling out with Mahajan.


Just back from a trip to London, Singh said: "That is not true, I just charted my own course of action. Once the general election was over in 2004, I realised there was no role for me. There was pressure on me to get back to business and I helped start up the airline."


"The airline is a public listed company and the investors are well-known. As for me, my personal investment in the airline amounts to Rs 100 million," he said.


"SpiceJet was promoted by the UK-based Kansangra family, businessman Sanjay Malhotra and I and began its services in May 2005."


However, Singh, once part of Mahajan's close circle, did not inform the BJP leader of his future plans.


"It is a whole lot of rubbish that Pramod Mahajan's money is parked in the airline and I was his point man. You can check the account books, the shareholders are listed," Singh emphasised.


Singh asserted he had neither talked to nor met Mahajan in the last two years.


In fact, Singh said, he made a clean break with all of Mahajan's associates after the BJP was ousted from power in the last elections.


 



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karatecatman


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Mahajan wanted to set up aviation school
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http://cities.expressindia.com/fullstory.php?newsid=187295


Mahajan wanted to set up aviation school
 
A trained pilot, Rahul’s application is pending with the Directorate General of Civil Aviation
 
Zeeshan Shaikh
 
Mumbai, June 10


Currently grounded by the cocaine controversy, Rahul Mahajan had earlier this year applied to the Directorate General of Civil Aviation (DGCA) to set up a pilot-training academy.


His father, late BJP general secretary Pramod Mahajan, had met DGCA officials in January with the proposal. Rahul then worked as a professional pilot with Jet Airways.


 
 
While DGCA officials confirmed that they received a proposal, they said the request is still pending with the country’s nodal civil aviation body.


Sources say the Mahajans were keen to set up the academy in Hydera-bad, but were denied permission due to the proximity of three Air Force bases.


Pramod Mahajan then decided to locate the academy in Aurangabad, Maharashtra, where his younger brother Prakash is based and has business interests. Insiders claim that the Mahajans were planning to procure around 20 flight training aircraft for this purpose.


According to DGCA regulations, a training institute can be set up as a joint venture with an existing player and the new entity should have a minimum equity base of Rs 1 crore.


While Rahul was a co-pilot with Jet Airways between 1997 and 2001, he did not command a flight. Sources say the Mahajan scion was virtually eased out of the airline. Later, after Pramod Mahajan took over as I&B minister, Rahul set up a TV production house.


 


 



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RE: ... and now SpiceJet and the "Mahajan link"
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karatecatman wrote:

http://cities.expressindia.com/fullstory.php?newsid=187295 Mahajan wanted to set up aviation school  A trained pilot, Rahul’s application is pending with the Directorate General of Civil Aviation  Zeeshan Shaikh  Mumbai, June 10 Currently grounded by the cocaine controversy, Rahul Mahajan had earlier this year applied to the Directorate General of Civil Aviation (DGCA) to set up a pilot-training academy. His father, late BJP general secretary Pramod Mahajan, had met DGCA officials in January with the proposal. Rahul then worked as a professional pilot with Jet Airways.    While DGCA officials confirmed that they received a proposal, they said the request is still pending with the country’s nodal civil aviation body. Sources say the Mahajans were keen to set up the academy in Hydera-bad, but were denied permission due to the proximity of three Air Force bases. Pramod Mahajan then decided to locate the academy in Aurangabad, Maharashtra, where his younger brother Prakash is based and has business interests. Insiders claim that the Mahajans were planning to procure around 20 flight training aircraft for this purpose. According to DGCA regulations, a training institute can be set up as a joint venture with an existing player and the new entity should have a minimum equity base of Rs 1 crore. While Rahul was a co-pilot with Jet Airways between 1997 and 2001, he did not command a flight. Sources say the Mahajan scion was virtually eased out of the airline. Later, after Pramod Mahajan took over as I&B minister, Rahul set up a TV production house.    

 


 The article in no way talks about how Pramod Mahajan was involved with Spice Jet. As far as this thread is concerned this is a dead thread. It just mentions what mahajans wanted to do. Please make sure articles posted on the forum are in relevant context and are absolutely related to the thread and please contribute to the thread by adding your  personal comments along with the article.


The thread is being closed down


regards


Anet-India Moderater



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