The consortium led by SBI has also initiated the process of recovery.
The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
The three state-owned oil companies have decided to defer snapping fuel supplies to Air India. The airline owes the three firms over Rs 5,000 crore in past fuel bills.
Mumbai International Airport Ltd (MIAL), the private airport operator, had earlier announced that all operations at the CSMIA will remain suspended between 2.30 pm and 7 pm as a precautionary measure in view of the cyclone Nisarga.
SpiceJet, IndiGo, Jet Airways, Alliance Air, and Turbo Aviation are among the operators that have bagged the routes in the third round.
Air India, which is operating flights to evacuate Indians stranded in foreign countries, have asked its pilots to undertake coronavirus test before they operate such flights.
The Enforcement Directorate (ED) had also published in leading dailies the court-issued proclamation against Mallya for appearance before the special PMLA court.
Chhatrapati Shivaji Maharaj International Airport catered to a total of 3,059 passengers.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
A bench of Chief Justice N V Ramana and Justice Manmohan issued notice to Civil Aviation Ministry, DGCA and others and sought their response by October 30.
Under Section 83 of the CrPC, ED may seek attachment of more of his property.
SpiceJet urges HC to direct DGCA not to deregister its planes.
A local court in Hyderabad has issued four more non-bailable warrants (NBWs) against businessman Vijay Mallya after he failed to appear in a court here in connection with alleged dishonour of cheques amounting to Rs 2 crore (Rs 20 million) to GMR Hyderabad International Airport Ltd.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
The operations at the country's second busiest airport had witnessed heavy disruptions on Wednesday as rains crippled the city.
The quantum of punishment is expected to be pronounced on May 5 by the court.
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
InterGlobe Aviation, the parent of the country's largest airline IndiGo, will convene a shareholders' meeting on December 30 to amend the company's Articles of Association (AoA) following a joint request from its promoters. The promoters -- Rahul Bhatia and Rakesh Gangwal -- together with their related entities and individuals own 77.4 per cent stake in InterGlobe Aviation. In a regulatory filing on Monday, the company said it will convene an Extraordinary General Meeting (EGM) on December 30 to amend the AoA to remove restrictions on transfer of shares by the promoters.
Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
A 1985-batch Karnataka cadre officer, Kharola would be steering the national airline at a time when the government has started the process for its strategic divestment.
The number of Indian passengers has jumped more than 20 per cent in the past year
BJP leader Subramanian Swamy on Friday moved the Delhi High Court seeking an order restraining the Centre from granting any approval to AirAsia for its operations in India.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
The Irish firms had sought to deregister SpiceJet.
The company said it will appoint a new Chairman at the next Board meeting.
He was also the chief financial officer of Kingfisher Airlines.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
CJI Lalit concurred with the minority view of Justice S Ravindra Bhat who held the EWS quota as "unconstitutional" for excluding poor among SCs, STs and OBCs.
The promoter-brothers, distant cousins to IndiGo's Rahul Bhatia, are eyeing Air India's ground handling subsidiary to augment their aviation services business even as they make a big play in EVs.
HC asks DGCA not to de-register SpiceJet planes till April 6.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year.
The raids resulted in recovery of documents of some dummy firms linked to Mallya like Gold Reef Investments Ltd and McDowell Holdings Ltd.
The special shinkansen or bullet train will run for the next three months between the western cities of Osaka and Fukuoka from Saturday, the West Japan Railway firm said, hoping that one of the country's most famous exports will boost tourism. Passengers will be in left in no doubt what train they are on, with Hello Kitty smiling down from the shades of every window and adorning every passenger seat cover. Here's a glimpse of what it will be like on board the train and we have to warn you, it's almost too cute to handle.
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya's now-defunct Kingfisher Airlines after the high court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security over the embattled businessman's assets in India. Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs handed down his judgment in favour of the banks to declare there is no public policy that prevents a waiver of security rights, as argued by Mallya's lawyers. At a virtual hearing, July 26 was set as the date for final arguments for and against granting a bankruptcy order against the 65-year-old Mallya after the banks accused him of trying to "kick matters into the long grass" and called on the "bankruptcy petition to be brought to its inevitable end".
