The disinvestment-bound carrier, which is incurring Rs 15 crore loss per day, has huge dues towards oil companies and Airports Authority of India, among others.
A Siliguri-based hotelier has challenged a National Company Law Appellate Tribunal (NCLAT) ruling that closed insolvency proceedings against OYO and one of its units, in the Supreme Court. The hearing is scheduled for September 13 before a two-judge Bench. Oyo did not immediately respond to a request for comment.
India's aviation regulator DGCA on Thursday lifted the ban on Boeing 737 Max planes' commercial flight operations after almost two-and-half years. On March 13, 2019, all Boeing 737 Max planes were grounded in India by the Directorate General of Civil Aviation (DGCA) after the crash of an Ethiopian Airlines 737 Max plane on March 10 near Addis Ababa which had left 157 people, including four Indians, dead. Aircraft manufacturer Boeing has been modifying the 737 Max plane since March 2019 so that various countries' regulators, including the DGCA, permit its passenger flight operations again.
"As on 31.12.2020, the total Air India dues against various Government Departments on account of airfare including dues towards VVIP Operations were Rs 498.17 crore," the GoI said in a written reply in Lok Sabha
After the massive tax evasion of GST by cryptocurrency service provider WazirX, the Directorate General of GST Intelligence has come down heavily on cryptocurrency exchanges operating in the country, said sources. "Around half a dozen offices of cryptocurrency service providers have been searched and massive Goods and Service Tax (GST) evasion has been detected by DGGI," sources told ANI. Crypto wallet and exchange are platforms where merchants and consumers can transact with digital assets like bitcoin, ethereum, ripple, etc.
All the 11 life term convicts in the Bilkis Bano case of the 2002 riots were released as per the remission policy prevalent in Gujarat at the time of their conviction in 2008, a top government official said on Tuesday and rejected claims of contravention of the Centre's guidelines in the matter.
In a circular issued on Friday, Additional Chief Secretary (Housing Department) Sanjay Kumar also asked landlords not to drive tenants out of their homes if they fail to pay rents during the current period.
For large numbers of employees in the government system, the month-end salary cheque is no longer guaranteed. So the days of the government and State-owned enterprises wanting to be ideal employers are over, observes T N Ninan.
The governor had earlier conveyed to Deshmukh his concern over the manner in which Goswami was arrested, the statement said.
The Supreme Court on Tuesday said it would consider a joint request for mediation of low-cost airline SpiceJet and media baron Kalanithi Maran and his Kal Airways for amicably settling all pending disputes between them including the row over the share-transfer issue. A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli was apprised by senior advocate Mukul Rohatgi, appearing for SpiceJet, that there were three pending issues between the low-cost airline and Maran and out of these, one has been settled on July 29. Initially, Rohatgi sought four to six week time for settling all the issues between the parties.
The complainant alleged that Darekar posed as a labourer, which was later found wrong.
The company is actively engaged with all its aircraft lessors and regularly providing them with updates on the efforts taken to improve liquidity.
Bharatiya Kisan Union leader Rakesh Tikait claimed that the crops are not procured by the government as per the MSP.
The airline is operating just 6-7 planes, with almost its entire fleet being grounded due to non-payment of rentals to lessors amid severe paucity of cash.
The pilots are also looking to take recourse to legal steps, including recovery proceedings against the company for salary, allowances and benefits
The Supreme Court Friday assured the home buyers of the to-be-razed 40-storey twin-towers of real estate firm Supertech in Noida that they will be refunded the full amount deposited with the builder. The apex court also asked the Interim Resolution Professional (IRP) of the firm, facing insolvency proceedings, to deposit Rs one crore with the apex court registry. The Supertech's 40-storey twin towers at Emerald Court Project of Sector 93A of Noida are scheduled to be razed on August 28.
Former BharatPe chief Ashneer Grover has written to the company's board seeking action against CEO Suhail Sameer following his offensive remarks on social media and sought resignation of chairman Rajnish Kumar. In response to a comment by Ashneer's sister Aashima on a social media post by former BharatPe employee Karan Sarki, Sameer said "Behen- tere bhai ne saara paisa chura liya (Sister, your brother has stolen all the money). Very little left to pay salaries". Sarki in the post had raised the issue of sacking of old staff and non-payment of salaries.
Personal loans have about 80 per cent share in exposures restructured under regulatory package 2.0 by eight banks who have declared results for the second quarter. The remaining 20 per cent are loans to individuals used for business and credit to MSMEs. The total recast exposure of these banks under One Time Restructuring (OTR 2.0) was Rs 27,708 crore.
The magistrate noted that the chain of circumstances, the reason behind the deaths of Anvay Naik and his mother Kumodini Naik and its connection with the accused persons are not established by the prosecution.
SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance (a Cipla group unit), Saradha Realty, United Bank of India and Trident India are among the prominent entities named in the list.
Shareholders of the six listed Future Group companies voted on Wednesday. Bankers said all the large lenders had rejected the proposal.
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
Shut since December following violence owing to labour unrest at its Karnataka facility, Wistron, Taiwanese contract manufacturer for Apple Inc, said on Tuesday its operations in Bengaluru will start soon, as the state government asserted it was ready to extend all cooperation. "We are looking forward to restarting our operations and welcoming back team members," David Shen, CEO Wistron Smart Devices, said in a statement. He said since the violent incident at their Narasapura facility in Kolar district in December last year, the company has been working hard on improving across the board to raise standards and fix the issues.
The AAP on Thursday said if it is voted to power in UP, it will provide 300 units of free electricity to domestic consumers, waive 'inflated' bills and ensure 24-hour power supply.
Cyber criminals are using apps and young women to trap people through mobile phone calls and video chats.
"If the states are not complying with the directions and orders of the Central government, you are not helpless. You have to ensure that your order is implemented. "You have got the power under the Disaster Management Act. You can take steps also," the bench told Solicitor General Tushar Mehta, appearing for the Centre.
Thousands of labourers, mostly Hindus and some Muslims, from different states arrived at railway stations and bus stands in Jammu and Udhampur after leaving the Valley.
The National Company Law Appellate Tribunal (NCLAT) on Wednesday closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties including Federation of Hotel & Restaurant Associations of India (FHRAI). Industry body FHRAI said in May it has been allowed by the NCLAT to intervene on behalf of hotels in the Oyo unit insolvency case before the tribunal. The association had filed the application on behalf of its member hotels in India, who it said at the time are operational creditors suffering hugely on account of non-payments of debt by Oyo.
The charge sheet was filed before a court in Alibaug in neighbouring Raigad district, where the case for alleged abetment of suicide of interior designer Anvay Naik and his mother Kumud has been registered.
Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank's Bhandup branch. Despite non-payment, the bank officials did not classify the loans as NPA and intentionally hid the information about the same from RBI.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
Weeks before shutting down operations on April 17, a logistics vendor had taken possession of a Jet aircraft--a Boeing 777--at the Amsterdam airport for non-payment of dues.
Alibaug Police had arrested Goswami and two others in the case related to interior designer Anvay Naik's alleged suicide in November 2020.
More than 25 aircraft of Jet Airways has been grounded by lessors due to non-payment of lease rentals. The airline, which started the winter schedule with 103 planes, is now down to 83.
There are no Jet flights to and from Kolkata, Patna, Guwahati and other airports in the region. It also cancelled flights to London, Amsterdam and Paris from Mumbai, New Delhi and Bengaluru scheduled for April 12.
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
The police sought the sessions court to quash the CJM order and grant them custody of the three accused.
The top court asked the Centre to file a compliance report within four weeks on payment of salaries and quarantine facilities to doctors and healthcare workers and warned that non-compliance would be viewed seriously.
Two Indian traders, who were held-up in China for several months over allegations of non-payment of dues to Chinese businessmen, have been sent back to India after intense diplomatic efforts.
