The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
From the next financial year, the government will utilise the disinvestment proceeds for recapitalisation of banks and for subscribing to the shares of Central Public Sector Enterprises and preferential allotments.
The Opposition has been protesting against allowing foreign direct investment in the retail sector, as well as the rise in fuel prices.
It would be a Cabinet Committee on investments, to be chaired by Prime Minister Manmohan Singh.
In another round of big-ticket reforms, the Union Cabinet will consider tomorrow raising the FDI cap in insurance sector to 49 per cent and opening the pension sector to foreign investment besides creation of a National Investment Board.
PM-led body won't have jurisdiction over state-level issues that contribute most to delays.
In a letter to Prime Minister Manmohan Singh, Ficci president R V Kanoria said it is possible to have NIB "without violating any existing Act or rule as the intention is to speed up the decision making process and not bypass any law".
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
Once the final decision is taken by the NIB, no other Ministry or Department or Authority should be able to interfere with that decision or delay its implementation," he said during his intervention at the meeting of the full Planning Commission.
With passenger growth pegged at 14 to 15 per cent, airport infrastructure could be a make or break business for both new players and incumbents.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
With Indian infrastructure companies burdened with debt, global PE funds and developers sense an opportunity to buy the airports cheap
According to the CCEA's decision, unlisted firms with three-year track record of net profit and positive networth will have to come out with Initial Public Offerings.
With all the brouhaha over GST, and (often) a limited understanding of the long-term forces shaping India's logistics sector, companies seem to have omitted factoring in some underlying trends that could shape supply chain excellence, says Neelesh Mundra.
Govt to chalk out entry of sovereign funds from Abu Dhabi, Qatar into such projects.
Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
Tiger operates Airbus A320s and was set up by SIA and Singapore's national investment firm, Temasek Holdings, in 2004.
The government has also decided that all unlisted CPSEs which have made profit in the past 3 years and have a positive networth should get listed on stock exchanges.
Ruling out any plans to restructure the National Investment Fund (NIF), the government on Friday said the proceeds from divestment of the NHPC and Oil India Limited (OIL) will be credited to the NIF.
India is home to almost 1.3 billion people.
India will equal China's 4.9 per cent share of world GDP in 2005 by the middle of next decade.
Smart City Mission has unleashed an unprecedented enthusiasm and expectations both within and outside the country.
Overcoming resistance from the Left Parties, government on Thursday virtually re-initiated the divestment process by targeting Rs 1500 crore (Rs 15 billion) funds for the National Investment Fund.
While demanding an increase in income tax exemption limit, the trade unions suggested that the rates of personal and corporate income tax for those in high income brackets should also be enhanced.
The zones, says Panagariya, would have to be set up near deep-draft ports, capable of accommodating very large and heavily loaded ships
Finance Minister P Chidambaram on Tuesday said the government was unlikely to divest its stake in any of the profitable public sector units in near future.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
Natarajan said she had an unpopular job but she never did anything wrong
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
Finance Minister Arun Jaitley announced slew of reforms for the masses.
Over Rs 1,500 crore (Rs 15 billion) that the government will get from offloading its residual stake in Maruti Udyog Ltd
Jaitley said the global volatility has thrown up challenges
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
"There has been one meeting (on this). It is a matter of setting up the governance structures. Now ball is in the court of the Indian side to finalise the governance of the setting up of the fund. We are ready for it," the UAE ambassador Dr Ahmed Al Banna said.
Modi govt must implement few policy measures which it announced in Budget 2015.
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