The regulator will audit an airport's ground facilities, its turnaround and general safety procedures, and the movement of vehicles. Underground facilities, ground servicing equipment, passenger boarding bridges, condition of the apron, marking and lighting, and availability of foreign object dustbin bins will be checked.
Net profit at M&M and Mahindra Vehicle Manufacturing Ltd contracted to Rs 918 crore from Rs 1,238 crore a year ago while revenue and other income decreased to Rs 12,997 crore from Rs 13,551 crore a year ago.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively
Rahul Bhatia and Rakesh Gangwal - the founders of IndiGo - will possibly face each other with deep mistrust, which the board chairman, M Damodaran, will attempt to defuse.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
JLR, the maker of Jaguar F-Type and Range Rover Evoque, was a jewel in the crown of Tata Motors till two years back. But, it has been struggling because of the pending Brexit, a sharp contraction in sales in China, a shift in consumer preference from diesel to gasoline in Europe, higher taxes on diesel vehicles, and tightening regulations.
'Now we will have real employees as the owner of the airline.'
Most of the hotels in the country, including the Indian ones that traditionally owned assets, have embarked upon an asset light model for a faster growth and quicker returns. Lemon Tree is likely to announce a deal with Keys Hotels in the next two weeks.
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.
The Gurugram-based company had acquired Lucknow-based drone manufacturer and consultant start-up TechEagle in December, to expand food delivery using drones
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
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
M&M is keen to increase the number of factories in the Africa region and plans are afoot to have one each in Sudan and Kenya.
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
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.
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