With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
In India, domestic airlines have not secured any relief from the government and are reporting 50-55 per cent loads as domestic air travel resumed on May 25 after two-month suspension.
Freight earnings too saw a decline of Rs 8,284 crore to Rs 13,412 crore in the first two months of FY21, compared to Rs 21,696 crore during the same period last year.
OMCs' Digital India move is likely to have an impact on more than 80.3 million Pradhan Mantri Ujjwala Yojana consumers, majority of whom are not exposed to digital transact.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
Railway traffic has dropped 32 per cent to 99.86 mt between April 1 and May 14, compared to the same time last year, while its revenue, too, dipped 41 per cent to Rs 9,094.38 crore.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
According to industry experts, the consumption of petroleum products in the month of April was only 30-40 per cent of what it had been prior to the lockdown. Due to this, refineries were forced to bring down their capacity too.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
The hospitality and tourism sector is among the worst hit because of the pandemic, and is unlikely to recover any time soon as people continue to be cautious of going out in a crowded places.
For many the resumption of trains is a big boon, but some say it doesn't come without confusion and worries
'Indian aviation cannot resume without at least three major airports being functional. If Delhi, Mumbai, Bengaluru, and Kolkata are shut, there is little chance that airlines will start flying even if the government gives the go-ahead.'
Companies across the sector are restructuring payrolls of crew, cutting allowances, and extending leave without pay duration as they realise they will have more aircraft and employees compared to customers.
No change in retail prices as oil marketing firms to absorb increase
Airlines and airports are devising their own standard operating procedures, with a limited number of flights being planned to enable social distancing on ground and inside aircraft. The AAI guidelines also state that airport facilities such as smoking rooms, kids play areas, and prayer rooms shall be restricted to a limited number of people, to minimise gathering.
The survivor from Thrissur, who returned from Wuhan -- the epicentre of the pandemic -- recounts her road to recovery and her future plans. Shine Jacob reports
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
Extended check-in time, frequent disinfection every hour, additional queue managers at entry, exit, boarding point, check-in halls, security check areas and boarding gates, with social distancing markers and reminders - welcome to our airports post-coronavirus.
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
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