A European cargo airline has moved the National Company Law Tribunal seeking expeditious acquisition of three Jet Airways B777-300 aircraft. The application is by a Malta-based Ace Aviation VIII Limited, which emerged as a successful bidder in the auction of three Boeing 777-300ER aircraft. The firm is part of a Belgium-based cargo airline and its application will be heard on Wednesday.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
Uttam Galva Steels is a part of the Reserve Bank of India's second list of cases, which will be referred to the bankruptcy tribunal for insolvency proceedings after lenders failed to resolve the account by December 2017.
In 2017, a retired R&AW officer conveyed that Uttar Pradesh Chief Minister Yogi Adityanath was keen to get monarchy restored in Nepal and suggested that I support these efforts.
Those responsible for protecting MPs have failed in their constitutional duties, said Congress president Mallikarjun Kharge.
The statement, made in the backdrop of the historic apex court verdict quashing the National Judicial Appointment Commission Act, assumes significance as the President said that the judiciary is "autonomous" and a vital feature of democracy.
She said her party has been consistently advocating dialogue, both with Pakistan and all sections of the society within the state, including the separatists, for a permanent resolution of the Kashmir issue.
'Suvinder Vicky in Kohrra. Manoj Bajpayee in Joram. Mohammed Zeeshan Ayyub in Joram and Scoop. Gagan Dev Riar in Scam 2003. Sukant Goel in Kaala Paani.' 'The number of awards will not be enough for the kind of work that has happened this year.'
'Every few days, I wake up with a sense of restlessness that time is running out'... 'We have created a due process for stressed assets to resolve, but there is no concrete plan in place for public sector bank balance sheets,' says RBI Deputy Governor Viral Acharya.
In a significant but tricky move, Sports Minister Vijay Goel has said that a resolution has been passed to transfer sports from the State List of the Indian Constitution to the Concurrent List in a meeting of the National Sports Federations called by the government in New Delhi.
At this year's TIME ball in New York City on Thursday, April 25, you would have run into a Coimbatore-born American scientist, looking lovely in Sabyasachi Mukherjee designer finery, who would most likely have been hanging out with Dua Lipa.
Two days before rebelling against uncle Sharad Pawar and joining the Maharashtra government last Sunday, Nationalist Congress Party leader Ajit Pawar approached the Election Commission on June 30 staking claim to the party name as well as symbol and subsequently also declared himself as president with the support of 40 lawmakers, sources said.
They said they will raise issues related to rising prices, unemployment, corruption and caste census.
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
The notification for the Congress president's election will be out on September 22 by when all the PCC delegates will be finalised and electoral roll published and the election, if required, will be held on October 17.
K C Chakrabarty, former deputy governor, RBI, talks to Anup Roy on issues in the new bankruptcy law and rules.
Goyal was questioned by the Serious Fraud Investigation Office on Thursday in Mumbai in connection with allegations of some financial irregularities.
A day after the nearly 13-hour meeting, the two sides in a joint statement on Saturday reaffirmed that such a resolution would help restore peace and tranquillity along the Line of Actual Control (LAC) in eastern Ladakh and facilitate progress in bilateral relations.
Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks.
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.
The Reserve Bank had identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs or bad loans of banks, for immediate referral for resolution under the bankruptcy law.
The best, wisest, and fairest next step in strengthening our own cause is to restore statehood to Jammu & Kashmir and allow the resumption of robust political activity. That's a box that remains unchecked on the Modi government's report card as we approach the fourth anniversary of Kashmir's Constitutional shift, notes Shekhar Gupta.
'The Maharashtra government is not being very clear; they are keeping quiet.'
Cultivate a thirst for knowledge, explore online courses, attend workshops and network with peers. Embrace opportunities to learn new skills and stay updated about industry trends to remain relevant and future-proof your career, advises Manu Saigal, director-general, staffing, Adecco India.
With Siddaramaiah and Shivakumar both staking claim to the top post, they are lobbying hard for it with supporters of each one raising the pitch in support of their leader.
Addressing the media alongside Modi, Meloni said Italy hoped that India, during its G-20 presidency, plays a central role in facilitating and negotiating the process for cessation of hostilities in Ukraine.
With just a few days left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely. An extension may not be economically desirable as it hampers the restructuring prospects for stressed companies, according to senior officials. Also, it would be a challenge to amend the law in such a short time. A Bill would have to be passed in both Houses of Parliament, if any change, with respect to suspension of Insolvency and Bankruptcy Code (IBC), is to be made - including extension or creating any exceptions to the rule.
Jet Airways HQ owner wants resolution professional to vacate premises. The licence for occupying the place has been terminated, on account of the airline having not paid the rent after March.
India's solidarity with the Palestinian cause dates back to Mahatma Gandhi's time and its rising global stature and influence over all key players in West Asia make it well-placed to play a crucial role in defusing the crisis arising out of the Israel-Hamas conflict, Palestine Ambassador Adnan Abu Alhaija said on Tuesday.
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.
She said on one hand, giant hoardings calling upon Kashmiris to "celebrate" the abrogation of Article 370 have been put up across Srinagar, whereas "brute force is being used to choke the actual sentiment of the people".
India's men's hockey team coach Terry Walsh, who quit on Tuesday after his contractual talks with Hockey India and the Sports Authority of India broke down, reiterated that there can be no progress without change in the current set-up.
Tthe Jamiat Ulema-e-Hind said it opposes the UCC as it is "totally against the religious freedom and fundamental rights guaranteed to the citizens in Articles 25 and 26 of the Constitution."
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
The 'Make Rahul Gandhi All India Congress Committee president again' chorus is growing louder in the Congress with half a dozen state units so far seeking his elevation to the top post, even as uncertainty and suspense persisted over whether he would take on the mantle.
Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" mid-term stating that "the financial statements of the company are long delayed. In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have a "significant impact" on its ability to "plan, design perform and complete" the audit as per standards.
Terming the twin terror strikes in Jammu region as a provocative and barbaric action by enemies of peace, Prime Minister Manmohan Singh on Thursday asserted that India will defeat such forces who receive encouragement from across the border and it will not allow them to derail the dialogue process.
India on Thursday abstained in the UN General Assembly on a vote moved by the US to suspend Russia from the UN Human Rights Council over allegations that Russian soldiers killed civilians while retreating from towns near the Ukrainian capital Kyiv.
