Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
'In equities, it has diversified portfolios.' 'So the short-term movement of individual stocks does not impact them.'
A committee of creditors had, in October, approved of the resolution plan submitted by UAE businessman Murari Lal Jalan and Kalrock Capital.
Amazon India has decided to shut down 'Amazon Distribution', according to sources. This follows its recent decision to shut its food delivery and edtech offerings. The moves are part of the annual operating planning review process amid global macroeconomic uncertainty. The e-commerce giant is looking to focus on its core businesses, sources said.
The new owners of Air India will have to retain all the employees of the national carrier for at least one year post which they can offer a VRS. The gratuity, pension fund and post retirement medical benefits of existing and past employees too would be honoured by the new owner, civil aviation secretary Rajiv Bansal said. Tata Sons has emerged as the winning bidder for Air India with the government accepting its Rs 18,000 crore offer to acquire 100 per cent of the debt-laden state-run carrier.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
The Congress will make it the main issue when its Bharat Jodo Yatra led by Rahul Gandhi reaches Jammu and Kashmir early next year.
The Congress party slammed Chief Minister K Chandrasekhar Rao and claimed that his pressure tactics resulted in the varsity's denial of permission.
Air India is set to enhance its in-flight service with a change in ownership from Thursday. This will include more variety in on-board meals, improved in-flight service procedures, and reintroduction of amenities. Non-vegetarian meals are being introduced in the economy class of domestic flights after a gap of nearly four years. Air India is set to enhance its in-flight service with a change in ownership from Thursday. This will include more variety in on-board meals, improved in-flight service procedures, and reintroduction of amenities.
Toyota Kirloskar Motor (TKM) on Tuesday said the labour strike at its Bidadi-based manufacturing plant in Karnataka has come to an end. In November last year, the automaker had to declare a lockout at the facility following workers' union members resorting to a sit in strike at the factory premises to protest against the suspension of a worker.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
Toyota Kirloskar Motor on Tuesday said it has lifted the lockout at its Karnataka (Bidadi)-based manufacturing plants.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Production at the maker of Innova and Fortuner has been crippled and it's operating at less than 10 per cent capacity.
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
The appraisals being done by most companies this year are harsher than past ones with higher threshold in many metrics. Reduction in headcount has been done across most tier-I and tier-II IT firms along with global technology firms in the country.
Some of the services like cash deposit and withdrawal at the counter and cheque clearances have been impacted due to the strike by banking staff.
Leader of Opposition Mallikarjun Kharge and some other members sought that the bill be referred to a standing committee for scrutiny.
Maharashtra's Labour Minister Dilip Walse-Patil has sought a written submission from the General Motors' (GM) Employees Union and the management of the company detailing its stance on the issue of plant closure. The labour minister asked the warring sides for submission at a hearing on Tuesday. Both sides have been given a week's time to reply.
With the privatisation of BPCL appearing inevitable, there are worries that the new promoter would soon move to lower wages.
The central government has agreed in-principle to Air India employees' main demands. It fears an industrial dissension now could impede the process of privatisation. It has agreed to bear the cost of liquidation loss on account of transfer to the Employees' Provident Fund Organisation (EPFO) from company-owned trusts, inclusion of employees in the central government health scheme (CGHS), and encashment of leaves. The template of the Air India process will be followed for other public sector undertakings up for privatisation at a later date.
Hasty, ill-conceived steps show how isolated Mamata Banerjee had been from the national political trend. A fascinating excerpt from Sugato Hazra's Losing The Plot: Political Isolation Of West Bengal.
Mehbooba said the parliamentary board of the party, which met earlier on Saturday, decided not to field any candidates from the two Lok Sabha seats in Jammu region.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
Banks have started organising silent demonstration in front of houses of defaulters.
United Bank of India and Andhra Bank employees start organising silent protests.
However, the hike in salary for government officials may take some time as the Centre had earlier this year decided to put a freeze on any hike in the DA of its employees till July, 2021, owing to the Covid-19 pandemic.
The Banking Laws Amendment Bill contains provisions such as raising of shareholders' voting rights from 10 per cent to 26 per cent in private banks and suppression of bank boards.
Battered by the Covid-19 pandemic, the maker of the Fortuner and Innova models is staring at a steep loss in the ongoing financial year.
United States President Joe Biden has nominated Indian-American lawyer and rights activist Kiran Ahuja to head the Office of Personnel Management, a federal agency that manages America's more than two million civil servants.
The employees had been trying to gain entry in protest at the lack of any formal notice of closure
AIBEA has decided to write to the government and RBI against infusing money into Jet Airways. State-owned banks, including SBI and PNB, are the main lenders to Jet.
Union sources claimed production at the Chennai plant, considered one of the biggest for Nokia, had declined from 13 million handsets per month to four million per month.
Als0 looking to make its staff accountable for delay in operations
The union is demanding early orders for wage revision and payment of arrears to non-executives, numbering about 2,50,000, who are eligible for wage revision since January 1, 2007.
In the upcoming round of privatisation, unviable airports are likely to be clubbed with six main airports and a prospective bidder may be restricted to bid for two airports.
The Delhi government had earlier threatened to impose the Essential Services Maintenance Act (ESMA) to ensure smooth functioning of the Metro and appealed to the employees not to resort to strike.
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