Investors Warned of Potential Losses as Skyways Subsidiaries Accused of Over‑billing

The prospectus for Skyways Air Services Ltd’s IPO highlights a red flag: allegations that its subsidiaries – Bress Port Logistics Ltd, RIV Worldwide Ltd (UK) and Skyways SLS Logistics GmbH – systematically over‑billed freight invoices, sometimes 40‑300 % above market rates. PG Paper Company Ltd claims a direct financial damage of INR 44.20 crore, part of a broader INR 800 crore turnover achieved through alleged fraud. The Economic Offences Wing’s investigation (FIR 0172/2025) also cites forged documents and criminal breach of trust, while the AEO‑LO certification remains suspended.