The Supreme Court has set conditions on the fund raising, however, and on Friday asked Sahara to obtain necessary approvals from the Indian central bank and other authorities to comply with foreign exchange rules.
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.
Sahara, which already has a more than $900 million loan from Bank of China on the three hotels, including the Plaza in New York, had sought the court's permission to take over the loan and refinance it from another creditor and raise a fresh loan of $650 million.
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.
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
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The award of more than 200 coal blocks to steel, cement and power companies has been at the centre of the so-called "Coalgate" scandal.
Jet is losing money fast, beset by high costs, low fares and cut-throat competition in its domestic market.
The Federation of Indian Airlines had challenged the aviation regulator's decision this week to issue an operating permit to AirAsia India.
The court on Tuesday ordered BSES -- part of billionaire Anil Ambani's Reliance Infrastructure Ltd to pay state-run NTPC the Rs 700 crore (Rs 7 billion) it is owed by May 31.
NTPC has vowed to raise the amount of energy it generates from renewable resources
Now, it cannot offer 3G services in pact with other telcos.
A panel of judges at the Delhi High Court set aside on Thursday the court's earlier order that had halted the execution of a government ban on top mobile phone carrier Bharti Airtel's 3G service pacts with rival carriers.
The police had filed charges in December against Bharti Airtel and Vodafone's India unit.
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