The Supreme Court on Monday gave conglomerate Sahara another three months to come up with a final proposal to raise funds against its assets to secure bail for its founder Subrata Roy, who has been held in a New Delhi jail for more than a year. Sahara has made several failed attempts to raise $1.6 billion in bail money. Roy was jailed after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal. The Supreme Court last week gave Sahara, a sprawling conglomerate that ranges from property to Formula One motor racing, a final chance to raise funds in order to bail out Roy. On Monday, the country's top court allowed Sahara to sell part of its Aamby Valley township outside Mumbai, which has luxury villas and a golf course, to raise funds.
Search is on for reliable indicators of underlying activity.
India's latest GDP numbers do not signal robust economic growth in near term.
The group also plans to commission 500 MW of solar power projects
The prospective owners of Indian low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.
Finance Minister Arun Jaitley last month pointed to the high cost of capital for India's businesses as a key factor behind a manufacturing slowdown.
NRIs are increasingly buying properties in India online.
SpiceJet is having tough times due to a huge financial crunch.
Troubled carrier SpiceJet has paid employees' salaries for November and cleared dues of fuel companies as well.
Fierce competition among airline firms has long limited price increases despite crippling operating costs
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Officials in India's civil aviation ministry are now expected to meet SpiceJet stakeholders within a couple of days to discuss the revival plan
Under a 2010 nuclear liability law, nuclear equipment suppliers are liable for damages from an accident, which companies say is a sharp deviation from international norms
Ajay Singh will team up with two blue-chip investors to bail out the airline
Promoters of SpiceJet do not have funds to bail out the airlines of dire consequences.
Investments are at risk if operators are unable to resolve concerns of authorities and customers after the rape accusation.
SpiceJet has cut the size of its fleet to 22-24 Boeing planes from 35 and will keep it this way for few months.
The company solf the frequent flyer business.
IndiGo's ascent is not without its risks, however.
It has been a difficult year for Singh, whose fate from the start has been closely tied to that of the Gandhi family.
Jet is losing money fast, beset by high costs, low fares and cut-throat competition in its domestic market.
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