Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
Maruti's exports in May were down 2.4% at 9,089 units
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
The election campaign finally ended on Friday, May 17. Arindam Majumder reveals what he discovered on the election front on a long rail journey.
The business of volume can be a win or a loss for a sugar mill as India's sugar market is heavily controlled by the government.
Sources involved in the bidding process confirmed that the entity had submitted a bid but expressed doubt over its acceptance
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, RBI may not be comfortable with a bank owner having realty business under its wings.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Banks want government to retain 40 per cent of Jet slots at all airports to ensure a new owner can kick-start operations soon after taking over.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
Lenders say settlements will cross over 100 accounts in the March quarter.
Bankers said the SC verdict might prolong the resolution process and force lenders to bring back cases to the drawing board.
The delay will increase the provisioning burden on lenders and will also postpone the benefit of reversal of money set aside as provisions.
Lenders send 'SOS' to the finance ministry on the tardy decision making and pile-up of cases at the Debt Recovery Tribunals and its appellate forum the Debt Recovery Appellate Tribunal.
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