MUMBAI: Private carrier Jet Airways, struggling to find a way out of its huge debt, on Thursday said its board has approved a bank-led debt resolution proposal, which would see lenders becoming the largest shareholders in the company. The company had already called for shareholders’ meeting on February 21, to seek approval for conversion of […]
Category: The New Indian Express
New Indian Express
MoD panel found Dassault was not lowest bidder for MMRCA category: CAG report on Rafale deal
NEW DELHI: A team of Defence Ministry officials had found in 2015 that Rafale-maker Dassault Aviation was not the lowest bidder for the UPA government’s medium multi-role combat aircraft (MMRCA) tender and that its bid should have been rejected at the technical evaluation stage itself, the CAG observed in its audit report on Wednesday. In […]
Intel agencies act to pull plug on Kerala State Electricity Board data leak
KOCHI: Intelligence agencies have flagged a major leak of sensitive data from the Kerala State Electricity Board (KSEB) that contained exhaustive details of customers’ profile and their online transactions with the Board. A few private firms associated with the KSEB for implementation of Restructured Accelerated Power Development and Reforms Programme (RAPDRP) are suspected to be […]
US fighter jets, Rafales to dominate Bengaluru skies
BENGALURU: Fighter jets, bombers, transport and reconnaissance aircraft from the US are set to dominate Bengaluru skies during the biennial five-day military and civil aerospace exposition Aero India 2019 starting in Bengaluru from February 20. Nearly 60 aircraft, including the much-talked-about French Rafale fighter jets, IAF’s Tejas Light Combat Aircraft, Su-30 MKI, Jaguar, Mirage-2000 I/TI, […]
PFC, REC put the brakes on loan disbursals
With credit rating firms assessing the impact of the mega PFC-REC merger on the companies’ credit profile, plans laid out by state-run power distributing companies’ (discoms) may come unstuck in the absence of adequate funding. Having been saddled with a ‘credit watch’ put on them by several ratings firms, both Power Finance Corporation (PFC) and […]
GAIL India given operational creditor status in Alok Industries
Gas-sector giant state-run GAIL India has been given operational creditor status by the Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Wednesday with regards to the resolution process of textiles player Alok Industries. However, the adjudicating authority Justice Harihar Prakash Chaturvedi noted that while GAIL India will be treated as an OC on […]
Former NHAI officer gets three-year imprisonment
KOCHI: A former NHAI(National Highways Authority of India) project director was sentenced to three years’ simple imprisonment by the CBI Court for demanding and accepting a bribe for issuing a NOC to construct a hotel beside the NH in 2007. Bitla Venugopal, 52, of Chempukkavu, Thrissur was also slapped with a fine of Rs 2.5 […]
Cochin International Airport cautions public against fake jobs
KOCHI: Authorities of the Cochin International Airport Ltd (CIAL) on Wednesday issued a notice cautioning the public against fraudsters scamming job-seekers by promising employment opportunities in CIAL and taking money in return. CIAL officers said the notice was issued after it was found some websites were spreading fake information regarding the recruitment drive and vacancies […]
Wider roads not such a good idea, says BBMP official
BENGALURU: After several years of pushing for road widening projects to lighten the burden on city roads, the Bruhat Bengaluru Mahanagara Palike (BBMP), pushed by Chief Minister HD Kumaraswamy’s vision for a mobility plan, could change its stance in the future. Speaking to City Express, Manoj Kumar Meena, Special Commissioner (Projects), said that he personally […]
Government likely to raise natural gas price by 10 percent
NEW DELHI: In a boost to firms like ONGC and Reliance Industries, the government is likely to raise the price of domestically produced natural gas by over 10 percent to over USD 3.72 per million British thermal unit with effect from April 1, sources in know of the development said. The price of gas produced […]
Former Railway Board chairman Ashwani Lohani appointed Air India CMD for second time
NEW DELHI: Ashwani Lohani has been appointed chairman and managing director (CMD) of Air India, according to an order issued by the government on Wednesday. This will be Lohani’s second tenure as Air India chief. His appointment was approved by the Appointments Committee of the Cabinet on Wednesday, sources said. Lohani was appointed Railway Board […]
DGCA reviewing Jet Airways flights’ schedule every 15 days
NEW DELHI: Aviation regulator DGCA is reviewing every 15 days the schedule of flights to be operated by crisis-hit Jet Airways, according to a senior official. The full service airline is grappling with acute financial problems and had to ground some of its aircraft due to non-payment of lease rentals as well as other operational […]