With the National Company Law Tribunal (NCLT) giving its go-ahead for the resolution plan, Jet Airways NSE 4.98 % could be back in the skies by the end of this year if everything goes well, according to the airline’s Resolution Professional Ashish Chhawchharia. Chhawchharia is managing the affairs of the grounded Jet Airways since the […]
Day: June 23, 2021
Reliance Infra in talks to sell Rs 1,400 cr worth of road assets to Cube Highways
Cash strapped-Reliance Infrastructure is in talks with Singapore based-Cube Highways to sell four operational road assets at a potential enterprise value of around Rs 1,400 crore, two industry sources told ET. The Anil Ambani-led infrastructure company is scouting for investors for its road assets as part of the strategy to divest assets, raise money and […]
Nitin Gadkari reviews progress of greenfield expressways, access controlled highways
Union minister Nitin Gadkari on Tuesday reviewed the status of award, bidding and pre-construction activities related to five greenfield expressways and 17 access controlled National Highways. The road transport and highways minister also stressed the timely monetisation of projects after completion.
NCLT set to rule today on the resolution plan for Jet Airways
The dedicated bankruptcy court is set to pronounce its ruling on the Kalrock Capital and entrepreneur Murari Lal Jalan Consortium’s resolution plan for the defunct airline Jet Airways NSE 4.98 % Ltd. The Mumbai bench of the National Company Law Tribunal presided by judicial members – Janab Mohammed Ajmal and V Nallasenapathy had reserved its […]
NCLT approves resolution plan by Kalrock Capital and Murari Lal Jalan for Jet Airways
The Mumbai bench of the National Company Law Tribunal has approved the resolution plan by Kalrock Capital and Murari Lal Jalan for Jet Airways NSE 4.98 % with certain riders. The successful bidders have been asked to get necessary approvals from relevant authorities within 90 days. The bench presided by judicial members – Janab Mohammed […]
Bankruptcy court approves Kalrock-Jalan’s resolution plan for revival of Jet Airways
The bankruptcy court on Tuesday approved the resolution plan of Kalrock Capital and entrepreneur Murari Lal Jalan for reviving Jet Airways NSE 4.98 %, almost two years after the defunct airline was admitted under the Corporate Insolvency Resolution Process (CIRP). Mumbai bench of the National Company Law Tribunal (NCLT), while allowing the resolution plan in […]
Jet Airways insolvency resolution journey
A brief timeline of the insolvency resolution process of Jet Airways NSE 4.98 %, which started off as an air tax operator in 1993 and became a scheduled carrier in 1995. April 17, 2019 — Cash-starved Jet Airways suspends operations June 20, 2019 — National Company Law Tribunal (NCLT) insolvency petition filed by SBI-led lenders’ […]
Hope to see Jet Airways flying again by year end, says airline’s resolution professional
With the National Company Law Tribunal (NCLT) giving its go-ahead for the resolution plan, Jet Airways NSE 4.98 % could be back in the skies by the end of this year if everything goes well, according to the airline’s Resolution Professional Ashish Chhawchharia. Chhawchharia is managing the affairs of the grounded Jet Airways since the […]
Passenger held for ruckus at IGI Airport over denial to fly without RT-PCR report
A 36-year-old passenger from Uttar Pradesh was arrested for creating ruckus at the Indira Gandhi International Airport here after allegedly being denied boarding by the airline for not carrying a mandatory RT-PCR test report, police said on Tuesday. Suraj Pandey, a businessman from Rudrapur in Uttar Pradesh, was arrested on Monday based on a complaint […]
Jet Airways may take a year to start flying again after revival plan approval
Jet Airways NSE 4.98 % may take around a year to take to the skies again after a bankruptcy court approved a revival plan for the grounded private-sector carrier that was once the leader in the Indian market. The new owners of Jet, a consortium of UK-based investor Kalrock Capital and Gulf businessman Murari Lal […]
Centre revises timeline of second tranche of coal mine auctions for commercial mining
The coal ministry on Tuesday announced revision in the timeline of the second tranche of auctions for commercial mining. In a statement, the ministry said the last date for registration of bidders and sale of tender documents on the MSTC NSE 0.85 % website and the bid due date have been revised. The last date […]
View: Pursuit of lower solar tariff – Fate of successful bidders in competitive bidding
Uttar Pradesh has become the latest state to renege on winning bids for solar projects, after the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) cancelled 184MW worth of projects discovered through auctions. The irony is, developers are not sure if they will get any legal protection against this arbitrary action of UPNEDA and […]