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Jet Airways lenders finally decide to take airline to NCLT

The decision was taken after a meeting of the lenders. “After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received,” SBI said in a statement.
jet airways taken to nclt by sbi led consortium will seek resolution under IBC News

Monsoon’s tardy progress raises concerns over Kharif crop

Area under all crops was 82.20 lakh hectares as of June 14, down from 90.34 lakh hectares in the year-ago period. Rice area trails at 4.26 lakh hectare against 5.47 lakh hectare last year while pulses

pre monsoon rain, thunderstorm maharashtra, monsoon maharashtra, IMD, monsoon, IMD prediction News

Doctors strike ends, Mamata Banerjee accepts demands, says proud of medicos

The strike, triggered by an attack on a doctor by the family of patient who died at the NRS Medical College and Hospital in Kolkata, saw doctors across the country joining the protests and observing a

India News

Budget 2019: Modi govt may extend tax reliefs to SEZs to attract companies fleeing China

India Budget 2019: The SEZ Act was introduced in 2005 along with tax exemptions through Section 10AA of the Income Tax Act.

Budget 2019 News

Two to tango: Mahindra, Ford to joinly develop 9 SUVs

While six models, including compact and large size SUVs, will be shared by both the companies under a rebadging format, three will be made exclusively for Ford, which will be used by the company in bo

mahindra ford india News

Jaypee Infratech lenders moot fresh plan to complete housing projects

The returns from sale of the completed flats would then be used for reducing the lenders’ existing liabilities, a senior banker aware of the developments told FE.

Industry News

US-China trade war: India sees export boost in 354 items

Of the 774 American tariff lines (items) on which China has imposed extra duties, India can ship out more and replace the US, especially in 151 items, the study suggests. In these 774 items, China’s

Economy News

PSU disinvestment: Govt to sell stake in 3 insurers to New India Assurance

Another option being considered is to merge all the four companies, instead of the proposed three, to create an LIC-type mega insurer in the general insurance space and avoid undercutting each other.

Markets News

Green power: Renewable energy use rises, but still behind target

Rajasthan, Tamil Nadu, Gujarat, Punjab, Maharashtra and Telangana — which have 56% of the country's installed renewable capacity — could not fulfil the RPOs in FY19, though they all met the target

solar auction, Renewable Energy, India Ratings and Research, Solar Energy Corporation of India News

PM Modi lays down 2024 vision during Niti Aayog meeting, says making India $5 trillion economy challenging but achievable

The Centre has been pushing states to enact a model agriculture produce marketing committee (APMC) Act to keep fruits and vegetables out of purview of the mandis, abolition of aarthia commission and p

Economy News

Air India plans expansion to fill Jet Airways void; flights to Nairobi, Hong Kong, Bali likely soon

The national carrier has already bagged unused flying rights of grounded Jet Airways to cities like Dubai, Doha and London. Air India increased frequencies on Delhi-Dubai and Mumbai-Dubai routes from

Industry News

From Twitter to hoardings – how Mumbai Police is using all tools to engage with citizens

The digitally-savvy law enforcement branch of the government of Maharashtra also joined Twitter a little over three years ago and has since been using pop culture and millennial slang to speak to the

India News

Profiteering? ESI contributions accumulate to Rs 84,000 crore wasteful reserve

After a long 22 years, the government on Thursday cut the mandatory contribution to the ESI medical care scheme for relatively low-wage earners to 4% from 6.5%, but this is a case of ‘too little, to

The massive reserve fund of ESI is invested in fixed income instruments News

Trade war: India to hike tariffs on US goods from Sunday

The decision comes ahead of the scheduled meeting between Prime Minister Narendra Modi and US President Donald Trump on the sidelines of the G20 meeting on June 28-29 in Japan.

The latest move to impose retaliatory tariffs worth $235 million comes just over a week after the US formally withdrew export incentives of roughly $190 million a year on Indian exports (Representational image) News

Mamata vs striking doctors: West Bengal crisis deepens as protest spread to other states

In West Bengal, the crisis deepened as hundreds of senior doctors of different medical colleges and hospitals submitted resignations en masse to the health department but these were not accepted.

Doctors from Kem Hospital protesting in solidarity with their counterparts in Kolkata’s NRS Medical College and Hospital, in Mumbai on Friday (Express Photo: Ganesh Shirsekar) News

Budget 2019: NBFCs seek special liquidity window, tax sops for retail investors in corporate bonds

Union Budget 2019 India: The minister met financial sector and capital market executives on Thursday morning and held another meeting with experts on infrastructure and climate change in the evening.

Union Budget 2019 India: Union Finance Minister Nirmala Sitharaman will present the Budget for 2019-20 on July 5 (PTI Photo) News

Insolvency: NCLT defers hearing on Jet Airways to June 20

The NCLT will issue notices to the grounded airline and if no one appears on behalf of Jet on June 20, the tribunal may may decide to admit the insolvency pleas ex-parte.

A section of Jet pilots is also planning to drag the grounded carrier to the insolvency court over pending salaries and other dues of around 600 pilots. News

Gulf Tensions: Oil prices soar after fresh tanker attacks

Brent crude futures rose as much as 4% to $62.64; set for biggest daily rise since early January

In this photo released by IRIB News Agency, an oil tanker is seen on fire in the Sea of Oman on Thursday. Two tankers near the strategic Strait of Hormuz were reportedly attacked. The US Navy rushed to assist amid heightened tensions between Washington and Tehran News

Relief for Indiabulls as plea filed in Supreme Court by shareholder withdrawn

The writ petition filed in the Supreme Court (SC) against Indiabulls Housing Finance and its group chairman Sameer Gehlaut by shareholder Abhay Yadav has been withdrawn, the company said on Thursday.

The housing finance company (HFC) had on Wednesday moved the apex court for an urgent hearing of the writ petition. News

Rising defaults: SEBI unveils wider disclosure guidelines for credit rating agencies

The CRAs will also have to comply with a uniform Standard Operating Procedure (SOP) in respect of tracking and timely recognition of default.

According to sources in the rating agencies, the move will bring in more transparency in assessment of these agencies and ensure that quality of rating remains the same across the agencies. News

Spectrum Auction: DoT asks TRAI to lower reserve price

The moves comes after telecom minister Ravi Shankar Prasad, soon after taking charge, said the government plans to conduct auctions within the current calendar year.

Under the Trai Act, the government can ask the regulator to reconsider its recommendations on any policy area barring telecom tariffs. News

Highway construction: Steady pace, but private investments still elusive

Though the PPP segment has faltered and reliance on state-funded projects risen, highway construction has steadily grown under NDA.

Highway construction: Steady pace, but private investments still elusive (Representational image) News

Farm exports: Cabinet secretary-led panel may review curbs

In December 2018, the Cabinet Committee on Economic Affairs (CCEA) had approved an agriculture export policy that proposed to keep the outbound shipment of processed and organic items free of any rest

In March 2018, the commerce ministry had released the first draft farm export policy, seeking a stable trade policy regime with limited government interference for key farm items. News

Jet Airways sale: Lenders, stakeholders to meet to iron out thorny issues

The meeting also holds significance as there were speculations that the Hinduja Group, which last month said it was evaluating the Jet Airways’ opportunity, had finally exited the negotiations.

n April, the State Bank of India-led consortium of lenders had invited bids for 75% stake in Jet Airways after the airline failed to meet debt obligations. News
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