NEW DELHI: National Company Law Appellate Tribunal (NCLAT), Thursday, reserved its order in the plea filed by State Bank of India-led consortium of lender’s against Jalan-Kalrock consortium (JKC), the successful bidder for the grounded Jet Airways. JKC and SBI-led Consortium have blamed each other for not letting the airline take off. The senior counsel for […]
Day: February 23, 2024
Lenders to open bids for Go First today
Bids for bankrupt airline Go First will be opened on Friday as lenders aim to find a suitor for the carrier which has been grounded for nine months. A consortium of Ajay Singh, SpiceJet owner and Nishant Pitti – co-owner of online travel firm EaseMyTrip, are the front runners as the duo has placed a […]
Delhi High Court orders SpiceJet to return engine to Belgian leaser by March 10
Observing that SpiceJet Ltd must strictly adhere to the deadline, the Delhi High Court on Thursday asked the low-cost airline to return leased engine to Engine Lease Finance BV, in Brussels, Belgium, at its own expense by March 10. It also asked Spicejet chairman and managing director Ajay Singh to file an affidavit within a […]
RTX’s Collins Aerospace to provide Air India with avionics hardware
Collins Aerospace, an RTX (NYSE: RTX) business was on Thursday selected by Air India for a full suite of avionics hardware catering to the airline’s expanding Boeing 737 MAX fleet. The deal was announced at the ongoing Singapore Airshow 2024. The package includes communication, navigation, surveillance equipment and air data sensors, designed to enhance safety, […]
SpiceJet improves financial position with another Rs 316 crore fundraising
In a move signaling investor confidence, SpiceJet has secured an additional Rs 316 crore in investments, ramping up its total funds raised to Rs 1,060 crore through a preferential issue, the company said in a statement. “The combined sum reflects strong investor confidence in SpiceJet’s future and unlocks exciting opportunities for the company,” the private […]
GMDC board approves capex of Rs 3,041 cr for FY25
State-owned Gujarat Mineral Development Corporation Ltd (GMDC) on Thursday said its board has approved a capital expenditure of Rs 3,041 crore for the next fiscal. The PSU had set a capex target of Rs 800 crore for the ongoing financial year. “GMDC is proud to announce the Board’s approval of a Rs 3,041 crore capital […]
Indore’s BRTS corridor to go green with all-electric bus fleet
In a first in the country, the Bus Rapid Transit System (BRTS) corridor in Indore city will soon have only electric buses, a senior official said here on Thursday. All diesel-run buses plying on the 11.45 km-long route will be replaced by electric buses, municipal commissioner Harshika Singh told reporters.
You may have just few days left to get your favourite electric scooter at best prices
Prime Minister Narendra Modi once famously said, “Yahi samay hai, sahi samay hai,” and while his words were meant for a different context, they ring true for those considering the purchase of an electric scooter. Time is of the essence, as you may have just a few days left to seize the opportunity to acquire […]
Bounce Infinity announces huge Rs 24,000 discount. Offer valid till this date
Electric two-wheeler manufacturer Bounce Infinity has announced a significant limited-period price reduction of 21 percent on its E1+ range of electric scooters. Starting now, customers can buy Bounce Infinity e-scooters at a reduced ex-showroom price of Rs 89,999, saving a substantial Rs 24,000 from the original price of Rs 1.13 lakh. This offer is valid […]
Bad news for India? Indonesia and Thailand up their EV strategy to attract electric vehicle makers
Indonesia and Thailand have announced a slew of measures to attract electric vehicle manufacturers to set up their bases in their countries. In its latest bid to boost the uptake of environmentally friendlier cars as well as attract investment to its domestic EV industry, Indonesia has announced plans to remove luxury tax on EVs for […]
Yulu raises $19.25 mn from Magna and Bajaj Auto, eyes expansion & new product launch
Shared mobility services provider Yulu Bikes has raised $19.25 million (about Rs 160 crore) from existing strategic investors Magna and two-wheeler maker Bajaj Auto, with which it has a strategic partnership to develop electric vehicles (EVs). The money will be used to launch a new product, extend reach and develop technology, Amit Gupta, co-founder and […]
Renault Nissan Automotive utilises 85% of renewable energy at TN plant between July-December 2023
Chennai, Automobile manufacturer Renault Nissan Automotive India Pvt Ltd has tapped 85 per cent of renewable energy for its operations at the factory near Chennai between July and December 2023, the company said on Thursday. The company is a joint venture between France based Renault and Japan-headquartered Nissan and has a manufacturing facility at Oragadam […]