Investors demand write-offs as Jet Airways owes over Rs 11000 crore outstanding debt

MUMBAI: Prospective investors in the temporarily grounded Jet Airways have asked lenders to take a massive haircut or write-off around 80 per cent outstanding debt of the airline which is more than Rs 11,000 crore, document and sources revealed on Monday. According to industry insiders, nine India based banks and two international lenders are expected […]

NHAI GM among four arrested for graft, Rs 27 lakh seized

HYDERABAD: The Central Bureau of Investigation (CBI) officials on Sunday arrested four persons, including National Highways Authority of India (NHAI) general manager and NSS Infrastructure employees, for allegedly accepting a bribe of Rs 27 lakh for official favours. According to CBI officials, the agency has registered cases under Section 7 and Section 8 of Prevention […]

Arun Jaitley promised to look into Jet Airways’ issues: CEO Vinay Dube

NEW DELHI/MUMBAI: Finance Minister Arun Jaitley has assured to look into cash-strapped Jet Airways’ issues that have forced the airline to halt operations temporarily, its chief executive Vinay Dube said Saturday. Dube, along with Maharashtra Finance Minister Sudhir Mungantiwar, civil aviation secretary Pradeep Singh Kharola, the airline’s chief financial officer Amit Agarwal, representatives of pilots, […]