The stranglehold of the founders over the Infosys management has strengthened after the recent changes.
Malaysian budget airline AirAsia moved a step closer to securing permission to launch operations in India, with Civil Aviation Minister Ajit Singh on Monday saying that all issues concerning the carrier's application have been resolved.
Medal layenge, medal layenge yeh baat tum dimaag se nikal do (a medal will never come if you chase after a medal, just focus on the processes)
In 2013-14, the group spent Rs 2.5 per cent of its revenue or Rs 16,000 crore.
'The funds were arranged from multiple banks at a very competitive rate and converted into dollars at the best rates.'
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
