Air India has leased a fleet of six Airbus A320 neo aircraft from CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co Limited, to boost the Tata Group-owned company's transformation journey, a statement said on Wednesday. The leasing agreement was signed on the sidelines of the Airline Economics Growth Frontiers Asia Pacific 2022 conference, said the CDB Asia statement. CDB Aviation is among the first aircraft leasing companies to secure the placement of Air India's additional A320 neo aircraft under the recently announced multi-stage transformation plan since the purchase of the airline by Tata group, which aims to increase the carrier's fleet and help it boost both domestic and international operations.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
China Development Bank takes Reliance Communications to NCLT over loan default
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
Bharti Airtel has received financing commitments of up to $2.5 billion from top Chinese banks.
'COVID-19 will not stop the expansion of China's 'infrastructure power'.'
The debt resolution involves RCom exiting the SDR framework with no conversion of debt into equity and zero write-off by lenders, Anil Ambani said, adding that he expects full closure by March 2018.
Reliance Communications has received a $750 million (Rs 3,000 crore) loan from China Development Bank that would be invested in building a nationwide GSM footprint for the telephony major. The Anil Ambani group company has received the loan for a ten-year period and at a rate of Libor (London Inter-Bank Offered Rate) plus 80 basis points. RCom had received the Reserve Bank of India (RBI) approvals for the loan, sources close to the development said.
Companies are drawn to the parks by the infrastructure and ready-to-occupy land.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Companies are ranked by total revenues.
Narendra Modi will turn 64, playing host to the visiting Chinese leader in Ahmedabad on Wednesday
Despite the administration's best efforts, all the maladies of small towns can't be wished away overnight, not even for the president of China, reports Sheela Bhatt from Ahmedabad.
In a few years there may be 100 Japanese companies in Gujarat, while Chinese firms may commit investments of over Rs 6,000 crore.
Markets ended in green on rate cut hope.
'There is no Buddha or Gandhi among countries, existing for the service of others; they all exist for the good of themselves.' 'For each country, its own interests should be paramount, and it is futile and churlish to expect China to be an exception to this rule,' says B S Raghavan, the distinguished civil servant and long-time China-watcher.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
India needs to fix policy paralysis in order to reach teh top slot in solar power.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
Chinese President Xi Jinping arrived in Ahmedabad on Wednesday on a three-day visit, which is expected to define the relationship between the two neighbours who have had a troubled past.
PM Modi's China visit may strengthen ties between both the countries.
No Indian auto brand (including Tata or Mahindra) is well-known globally.
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