The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
A 58-year-old man died after a power transformer fell on him in Raigad district. 2 people died and 3 were injured in two separate cyclone-related incidents in Pune.
Capital gains exemption limit and a steep reduction in the highest surcharge will empower the masses with enhanced liquidity flow that can be invested in real estate, points out Dhaval Ajmera.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
The Adani Group on Friday said it has acquired 27.26 per cent equity stake in NDTV from Prannoy Roy and his wife Radhika Roy -- founders of the news broadcaster. "RRPR, an indirect subsidiary of the company and member of the promoter/promoter group of NDTV, has acquired a 27.26 per cent equity stake in NDTV from Prannoy Roy and Radhika Roy by way of inter-se transfer...," said a regulatory filing from Adani Enterprises. On December 23, Prannoy Roy and Radhika Roy had announced to sell 27.26 per cent out of their remaining 32.26 per cent shareholding in the NDTV to the Adani Group.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Further relaxation in aircraft capacity deployment coupled with festive season air travel demand helped recovery in the domestic traffic with passenger volume seeing 22 per cent sequential growth in the previous month, ratings agency ICRA said on Wednesday. ICRA also said that the November domestic passenger traffic was close to 50 per cent of the domestic air travel demand in November 2019. The recovery in international passenger traffic, however, is likely to further get delayed in the wake of fresh travel curbs by select countries following the detection of a new virus strain in the UK, it said.
'I did a small role in Masoom.' 'Do you remember the scene where an old man brings Jugal Hansraj to Naseer's house?' 'I put on the full make-up of an old man and stood in front of Shekhar.' 'He had no choice but to take me.'
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
The airline is also looking at cities in the northeast.
They said Rajeev Shamsher Bahadur Saxena wanted in the Rs 3,600 crore AgustaWestland VVIP choppers money laundering case and lobbyist Deepak Talwar wanted by the Enforcement Directorate and the Central Bureau of Investigation in a case of misusing over Rs 90 crore taken through the foreign funding route, were brought in a special plane to Delhi around 1:30 am.
'Cyrus was always very different. He would think before acting.'
The disappointment of the year is government's failure in finalising the re-drafted aviation policy.
Proposals for listing of AAI and Pawan Hans have been made in the Draft Civil Aviation Policy, released by Raju.
.jpg)
Swamy had written to the Election Commission, the DGCA and the Civil Aviation Ministry not to grant a license to the carrier.
'The virus of trust deficit seems to be taking a toll of the friendship built over the years by succeeding leaderships of the two countries,' notes Rup Narayan Das.
'Sholay wallah kahani hai: 'Gabbar Singh aayega, Gabbar Singh aayega.' 'But what is inside Gabbar Singh nobody knows.'
Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,025.34 per kilolitre, or 4 per cent, to Rs 71,800.21 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
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.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Armed with green nod and fund infusion, Gujarat govt getting ready to issue tenders to build infrastructure at the mega investment region
Airlines say ATF fuel prices in India are 40 per cent higher than in countries such as Singapore. Jharkhand, Chhattisgarh and Maharashtra
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
This is the first market where the newest entrant to Mondelez's global chocolate portfolio will be launched, Siddharth Mukherjee, director, chocolate category & media, Mondelez India Foods Ltd, said in an exclusive conversation with Business Standard.
India has been eyeing deeper energy ties with Iran and has already lined up $20 billion as investment in oil and gas as well as in petrochemical and fertiliser sectors there.
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
United States President Barack Obama on Sunday arrived in India for a highly anticipated three-day landmark trip during which the two countries will strive to make progress on climate change, defence and economic cooperation.
Is it Rs 300 billion or Rs 66 billion or Rs 33.12 billion?
10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
The first train of the Chennai Metro Rail chugged off from Alandur Station in Chennai on Monday.
India has already pipped Japan as the world's third-largest oil consumer.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
Members of Parliament (MPs) across the political spectrum have written to the Prime Minister's Office (PMO) and the Central Vigilance Commission (CVC), seeking a probe into a stake sale deal between Jet Airways (India) Ltd and Gulf-based carrier Etihad Airways.
India has made a good beginning in the area of satellite navigation but still there is a long way to go.
'Modi and Abe are working seriously for India-Japan bonhomie to grow stronger.' 'It is a win-win situation for both countries and the future look promising,' says Rajaram Panda, the Indian Council for Cultural Relations India Chair Visiting Professor at Reitaku University, Japan.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances