While Waryam Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders.
The company operated chartered flights from London Gatwick and Manchester airports to Goa between November and March and its closure will adversely impact local tourism.
BMW is over-capitalised and is awash with cash and it could quickly lower JLR's investment costs and raise margins by leveraging its own platforms, powertrains, purchasing scale and quality control.
The national carrier, which is already struggling with its fuel payments, spends Rs 6,000-7,000 crore annually on fuel. A 10 per cent hike in crude price would mean over Rs 50-58 crore of extra costs for the airline.
India Inc's investment project announcement falls to Rs 11.3 trillion. In the coming months, the pace of investments would depend on how soon consumption demand picks up and private sector investment ramps up investment in infrastructure.
While IndiGo had 11.8 per cent of all the international seats to and fro India in the last week of August, Air India's seat share was 11.4 per cent. Emirates came third with 8.1 per cent, and rest of the airlines constituted 68 per cent of the seat share.
The deal size and project completion deadline were not disclosed in the announcement, but people in the know have pegged the deal at over Rs 6,000 crore, reports Aneesh Phadnis.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
Agarwal submitted the express of interest through his family investment arm Volcan Investments before the close of the bid process on Saturday afternoon.
The possible date for bidders to submit a resolution plan to the adjudicating authority -- National Company Law Tribunal (NCLT) -- is September 27.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
The first hurdle is how long Jet Airways can enjoy rights over its parking slots at various airports.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
On Tuesday 55 flights were diverted, over 200 flights were cancelled because of rain, low visibility and poor braking action on secondary runway
In a circular, the DGCA said, "Crew should be well aware of the aircraft limitations and of takeoff/landing performance calculations during the adverse weather operations." The regulator also said that the airlines must "make available sufficiently experienced crew in the cockpit".
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
Besides lining up Bali, Nairobi and Toronto flights, the airline is also planning flights from Mumbai to Hong Kong. The network expansion will help the national carrier grow its market share and capitalise on the capacity vaccum created by the collapse of Jet Airways.
July 14 features three big-ticket sporting events -- the World Cup final, the Wimbledon men's final and the British Grand Prix.
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