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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

IL&FS-Ansal link: Mystery loss of post-dated cheques

Sources said IL&FS Trust Company, (now called Vistra ITCL after it was acquired by Vistra in 2016), was the trustee firm that kept these cheques.

Their role will now be under the scanner as regulatory agencies look at the web of IL&FS transactions. News

‘Surplus’ Capital: Jalan panel yet to iron out differences, to meet again

The ECF panel was mandated to submit its report to the RBI within 90 days of its first meeting which took place on January 8.

Finance minister Nirmala Sitharaman will present the Budget 2019-20 in Parliament on July 5. News

IFIN former CEO didn’t disclose links with Unitech

SFIO said its investigations revealed that IFIN, as part of its lending business, extended loan facilities to external entities (other than IL&FS group firms).

One of the firms in question had business transactions with the cash-strapped Unitech, which had defaulted on a loan taken from IFIN. News

Cyclone Vayu mars monsoon progress, sparks concerns over kharif crop

The states have been asked to adhere to the local contingency plans (made for 648 districts separately) which prescribe what crops, which varieties are to be sown in a particular period, the official

Rain lashes in Gujarat Valsad ahead of Cyclone Vayu (ANI Photo) News

GST evasion: Govt plans big move to stop large-scale dodging

Once real-time reporting of transactions to a central portal starts, it will be practically difficult for the businesses concerned to reduce their tax liability by inflating the claims for input tax c

The government is concerned about the GST collections continuing to trail the targets by wide margins. News

IL&FS probe: How top executives bent rules to favour Ansals

IL&FS financial arm gave dubious loans to Ansals; chief’s family invested in Ansal firm

According to the IL&FS internal investigation report, in the financial year 2006-07, Silverglades Investments and Ansal Properties set up joint venture companies. News

Cheers! Good news for beer lovers in Noida, Uttar Pradesh

The move, while giving a boost to tourism, will also increase the excise revenues of the state as the licence fee for setting up such breweries has been hiked.

UP will now have micro-breweries on the lines of Maharashtra, Karnataka, Haryana and Delhi News

Jet Airways pilots planning to move NCLT demanding dues as hopes for revival dim

Jet Airways has not paid salaries to its pilots since January. The National Aviators Guild, one of Jet’s pilots’ unions, has engaged a legal representative and may approach the tribunal soon, a pe

The grounded carrier reportedly owes over Rs 8,000 crore to lenders. News

DHFL pays Rs 963 crore interest on NCDs after rating drop

According to a filing on the exchanges, the mortgage firm said the payments had been made within the cure period of seven working days.

Market participants say that, on June 4, 2019, DHFL had interest and principal payments due to the tune of approximately Rs 1,100 crore to industry players News

Supreme Court orders immediate release of journalist arrested for social media post on Adityanath

Appearing for UP, Additional Solicitor General Vikramjit Banerjee said the petitioner should have first approached the High Court for relief instead of coming straight to the Supreme Court with a peti

A vacation bench of Justices Indira Banerjee and Ajay Rastogi called Kanojia’s arrest as “excessive” News

Anil Ambani says Reliance-ADAG has serviced debt over Rs 35,000 crore

Ambani said over the past 12 months, retail shareholding across all companies remained uneroded and consistent, cementing his belief of the strong support and good wishes of all shareholders for the R

Anil Ambani says Reliance-ADAG has serviced debt over Rs 35,000 crore News

Dip in tax revenue from revised estimate sharpest in 15 years

But if the gaps from revised estimates or REs (made towards the end of the year) and the actual numbers are too wide, the sanctity of the estimates comes into question.

Dip in tax revenue from revised estimate sharpest in 15 years News

Jaypee Infra insolvency: Lenders reject NBCC bid — key details

Exact percentage of votes for and against the plan not disclosed, but it is likely it didn’t get nod of two-thirds of lenders and buyers.

As many as 13 banks and over 23,000 homebuyers have voting rights in the committee of creditors (CoC) of Jaypee Infratech. News

IL&FS scandal: Govt moves NCLT to get auditors of IFIN barred

The MCA moved the Mumbai bench of the NCLT, urging that Deloitte Haskin and Sells and BSR Associates, auditors for IL&FS Financial Services (IFIN), be barred from providing audit services in the count

IL&FS Financial Services is among the 348 subsidiaries of the IL&FS group, which owes more than Rs 95,000 crore to lenders. News

Desi Push: Aditya Birla buys ethnic brand Jaypore for Rs 110 cr

ABFRL, which has devoted little shelf space so far to ethnic wear, is buying the brand at an enterprise value of `110 crore in an all-cash transaction.

Jaypore's business comprises online and offline operations and has a customer base in 60 countries across the world. (Website image) News

Income tax evasion: How India’s crorepatis dodge tax system

FE has juxtaposed the I-T data for FY16 with the Household Survey on India’s Citizen Environment & Consumer Economy (ICE 360° Survey), conducted by the People Research on India’s Consumer Economy

India tax system, crorepatis, tax evasion, checking evasion, I-T database, I-T returns, PRICE survey,  ICE, PAN, demonetisation, Narendra Modi News

Export subsidy programme to be phased out to meet WTO norms

MEIS to go; instead, tax remission scheme, now only for garments, to cover more sectors

export subsidies, WTO, Merchandise Exports from India Scheme, Piyush Goyal, central GST, GNI threshold News

How NHAI hopes to garner Rs 9,000 crore under TOT model in FY20

To soon invite requests for proposal for two TOT tranches, measuring a total of 970 km

NHAI, TOT model, highway projects, Cabinet Committee on Economic Affairs  News

Govt move to ban non-electric two-, three-wheelers impractical: SIAM

“Such unrealistic expectations and policies would only adversely affect the world's number one two/three-wheeler industry but may not help in making EVs acceptable to the customer and the market,”

non-electric 2/3-wheelers, SIAM, NITI Aayog, Amitabh Kant, BS-VI emission norms  News

Amul Girl 2.0: Keeping up with the changing times

The duo, comprising daCunha Communications’ director Rahul daCunha and writer Manish Jhaveri, then march in with their one-liners to cartoonist Jayant Rane who brings the Amul Girl to life, with her

Amul Girl, Amul Girl 2.0, daCunha Communications, Rahul daCunha, Manish Jhaveri, Utterly, Butterly Deliciousadvertising tool , amul advertisment News

Relief for holidayers as June airfares cool down

As airlines take up Jet slots, fares have come down since March

June airfares, airport tcikets, cheap air tickets, cheap flight tickets, flight tickets in june, SpiceJet, Vistara, Delhi-Mumbai flight, Mumbai Bengaluru flights, Delhi Kolkata routes News

Jet Airways fallout: Cross-border insolvency norms to be amended

Cross-border insolvency proceedings enable foreign creditors to recover money lent to any insolvent Indian company and vice-versa.

Jet Airways fallout, Cross-border insolvency norms, Insolvency and Bankruptcy Code, Jet Airways, Etihad Airways, State Bank of India,  IDBI Bank News

UTI Mutual Fund marks down its debt exposure to DHFL to 100%

DHFL had failed to repay interest and principal of approximately Rs 1,100 crore due on June 4, 2019.

UTI Mutual Fund, DHFL, CRISIL, ICRA, NCD, DHFL Pramerica, UTI Ultra Short Term Fund News

RBI revised framework offers some leeway to defaulters — check new rules

One-day-default rule makes way for a 30-day one, but banks need to find a resolution fast or punitive provisions kick in

RBI, RBI revised framework, defaulters, new rules for defaulters,  inter creditor agreement, NPA account, Insolvency and Bankruptcy Code News

IL&FS scam: Aircel founder Sivasankaran used IFIN to sanction loans

SFIO, based on its investigations, also claimed that Sivasankaran controls the Siva group and took all the important decisions on part of the group companies.

IL&FS scam, Sivasankaran, Aircel founder Sivasankaran, IFIN, IL&FS group, SIVA Ventures, ministry of corporate affairs News

FCI reform: Paswan rolls out Rs 6,000 crore plan to build silos

The government’s food subsidy bill — budgeted at Rs 1.84 lakh crore for FY20 — would come down by close to a third if the current public procurement+distribution system is replaced with more cos

FCI reform, Ram Vilas Paswan, direct cash transfers, food subsidy bill, NSSF loan, NSSF act, Antyodaya Anna Yojana  News
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