Jet Airways expects to raise over Rs 1,000 crore by selling 2.5 acres of premium land it owns in the Bandra-Kurla area in Mumbai. The move will partly help the company to raise about $400 million (roughly Rs 2,000 crore) to cut its debt burden of Rs 15,885 crore.
Permission for dual listing would require full capital account convertibility and therefore changes in regulations under the Foreign Exchange Management Act.
The deal, which will be the largest in the global telecom space, will be subject to South African government approval.
Airline managements are divided on the likely impact of the settlement of the Jet Airways imbroglio.
The government has sought to put an end to the ambiguities in the implementation of Press Notes 2 and 4, which significantly relaxed foreign direct investment (FDI) guidelines, with the Commerce Ministry requesting the Reserve Bank of India (RBI) to make changes in the Foreign Exchange Management Act (FEMA) to operationalise the guidelines. The direction from the government follows a number of references and queries from investors.
Claim breach in procedure, demand probes; Reliance denies charge
Halving the productivity-linked incentive will make its salary levels unattractive and put a heavier burden on junior staffers.
Eases regulatory hurdles for Bharti-MTN deal.
India has a huge infrastructure problem and the solution so far appears to be to throw more money at the problem, without much effort to fix the core issues, says Sunil Jain.
He worked on the Delhi electricity privatisation
New Delhi, 7 August A strike call and its withdrawal proved an embarrassment for a former senior aviation bureaucrat.
Airline losses have more to do with their business models than the price of aviation fuel.
This has to be one of the most blatant tricks Raja is pulling off.
MTNL will be one of the few big telecom companies in the world to allow competitors to offer their brand on its network.
One lesson the government should learn from the Air India-Indian Airlines merger fiasco is that combining two sick people ends up making them sicker.
Airline asks for Rs 7,000 cr; may get half subject to conditions.
The government's financial restructuring plan for loss-making Air India may include a staggered infusion of equity, entailing an initial infusion of around Rs 1,300 crore (Rs 13 billion), going up to around Rs 2,000 crore (Rs 20 billion), depending on the company's need.
The guidelines also point out that it is not advisable to form 50-50 JVs, since such a company is regarded as a private company and functions as such, even though the PSU is an equal shareholder. In many cases these entities are not accountable to Parliament or the state assembly.
A bitter battle between the finance ministry and the Department of Telecommunications over their jurisdiction might force the latter to withdraw its decision to waive licence fees for fixed-line service operators in rural areas.
The Comptroller and Auditor General has indicted the way the DMRC is run and points to the novel 50:50 management structure that neither of the governments is in charge, so the company is pretty much run by the management, namely Sreedharan.
