The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over. Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
NetProphets Cyberworks Pvt Ltd, a Web Services company, is looking for Graphic Designer Web.
The fresh negotiations with Israeli authorities concerned for procurement of the two Phalcon AWACS come in the midst of India's bitter border row with China in high-altitude eastern Ladakh.
Silgate Solutions Pvt Ltd is recruiting Customer Care Associates for an international call centre.
Declining vegetable prices brought down the retail inflation to a 15-month low of 4.59 per cent in December and within the comfort zone of the Reserve Bank, government data showed on Tuesday. It is for the first time during the current fiscal that the Consumer Price Index (CPI) based inflation print is below 6 per cent or in the RBI's target range of 2 to 6 per cent. The central bank factors in the CPI-based inflation while arriving at its monetary policy. The inflation in December 2020 came down from 6.93 per cent in November, mainly on account of 10.41 per cent decline in vegetable prices over the year-ago period.
The company claimed that its product is "three times better than remdesivir and that 'AAYUDH Advance starts where vaccines stop'."
Mumbai-based private operator Maritime Energy Heli Air Services Pvt Ltd (Mehair), in association with MTDC, on Monday launched maiden seaplane service to Lonavala from here, marking its first operation from the mainland.
A plea was filed in the Supreme Court on Wednesday challenging the Delhi high court's May 31 verdict which dismissed a petition seeking to suspend all construction activity of the Central Vista Avenue redevelopment during the COVID-19 pandemic while describing it as a 'vital' and 'essential' project of national importance.
News Corporation's subsidiary Star India Pvt Ltd has entered into a co-publishing venture with bookseller and publisher Popular Prakashan Pvt Ltd to launch activity books based on two popular shows, 'Shaka Laka Boom Boom' and 'Sonpari.'
The Supreme Court Thursday dismissed a plea filed by Facebook India Vice President and MD Ajit Mohan challenging the summons issued by the Delhi Assembly's Peace and Harmony committee for failing to appear before it as witness in connection with the north-east Delhi riots last year.
The Supreme Court on Friday sought responses from the Centre and Twitter India on a plea seeking a mechanism for regulating content and advertisements spreading hatred through fake news and instigative messages via bogus accounts.
NH-925 is India's first national highway to be used for emergency landing of IAF aircraft.
German MNC Siemens on Tuesday announced consolidation of its telecom operations in India by buying out 100 per cent equity stake in its telecom company, Siemens Public Communication Networks Pvt Ltd, for a consideration of Rs 195 crore (Rs 1.95 billi
A bench, headed by NGT Chairperson Justice Adarsh Kumar Goel, set up a five-member Committee to probe Thursday's gas leak incident in the chemical factory, in which 11 people were killed and 1,000 exposed, and submit a report before May 18.
Last Friday, the apex court had ordered Nokia to give a Rs 3,500-crore (Rs 35-billion) guarantee before it transferred its Sriperumbudur facility, one of its biggest plants globally.
Taking note of the concern by petitioners Karmanya Singh Sareen and Shreya Sethi, the high court wished to examine the issue and asked the concerned authorities to file their reply by September 14.
Tata-controlled CMC Ltd has filed a draft prospectus with Securities and Exchange Board of India for its proposed initial public offering to divest Centre's 26.25 per cent stake in the software firm.
Top shuttlers, including Olympic champion Carolina Marin of Spain and Rio silver medallists P V Sindhu, will be for grabs when the high-profile Players' Auction for the lucrative Premier Badminton League (PBL) gets underway in New Delhi on Wednesday. Besides Marin and Sindhu, Olympic bronze winner Viktor Axelsen of Denmark will be among the 16 Olympic medallists who have confirmed their participation at the second edition of the event to be held from January 1 to 14.
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.
MetLife India Insurance Co Pvt Ltd is looking out for Channel Sales Officers.
The Greaves Ltd's board has decided to divest its 23.67 per cent stake in Crompton Greaves Ltd to B M Thapar Group.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
An advisory was sent to Army personnel last month to make them aware of the 'trap'.
A private company, which showed interest in converting Viraat into a museum, is yet to get a NOC for the project from the MoD.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
The Mumbai police has registered a case in the TRP scam and summoned Republic TV's chief financial officer S Sundaram for investigation.
A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) attaching a residential flat worth Rs 1.54 crore in Mumbai's Worli, and 25 land parcels valued at Rs 2.67 crore in Dhutum village in Raigad district.
The high court also told app-based taxi service provider, Ola cabs that it was inclined to allow only CNG-based cabs to provide point to point service in the national capital.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
Soffia Software Ltd has informed BSE that it has considered the Valuation Report of TranSys Technologies Pvt Ltd and Soffia Software Ltd and consequently arrived at a swap ratio of 304 shares in Soffia for every 20 shares in TranSys.
The Bombay high court on Tuesday asked what had prompted the Mumbai police to hold a press conference last year over the alleged Television Rating Points (TRP) scam.
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