BJP leader Subramanian Swamy continues to seek probe into SpiceJet's stake sale

MUMBAI: BJP leader Subramanian Swamy continues to seek a government probe into SpiceJet’s latest stake sale to former promoter Ajay Singh, his latest move being to question Goldman Sachs’ role in evaluating the company.

“How could Goldman Sachs be asked to evaluate the net worth of SpiceJet Airlines when many of the Indian agencies with no foreign connection are able to do as professional an analysis. And on what basis did Goldman Sachs declare that the share prices of SpiceJet were near zero i.e. that there were dud shares? In fact, the valuation of a public limited company like SpiceJet ought to have been made public under the provisions of company law,” he said.

On January 29, SpiceJet’s previous owner media baron Kalanithi Maran transferred his entire 58.46% shareholding to Singh.