Companies

Jet Airways gets a lifeline, airline likely to get Rs 1000 crore on Monday

The latest proposal of fund infusion came after a meeting of civil aviation secretary Pradeep Singh Kharola and top officials in the PMO Friday evening, deliberating the possible way out to save the beleaguered airline.

Apr 14, 2019

IL&FS Chairman Ramesh Bawa arrested for massive loan defaults

The former top executive has been held under Section 447 of the Companies Act that enables SFIO to arrest a person for committing fraud.

Apr 13, 2019

Reliance Communications denies France waived taxes for Anil Ambani-led company

Reliance Communications rubbished a media report which claimed that taxes to the tune of 143.7 million euro were waived by the French authorities.

Apr 13, 2019

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Will lenders thwart Naresh Goyal's bid for backdoor entry to Jet's cockpit?

Jet Airways founder's expression of interest in debt resolution plan puts banks that ousted him as chairman in a fix while reports of PMO's interest add to uncertainty

Apr 13, 2019

How much is Facebook spending to keep Zuckerberg safe?

Mark Zuckerberg was awarded $9,956,847 in 2018 as the pre-tax income for security and personal travel. He was given an extra $10 million for his family's security.

Apr 13, 2019

Once bitten, twice shy: Roots of Etihad's reluctance over Jet Airways rescue plan

Etihad's non-binding expression of interest in Jet rescue plan is only the first step in a long and cautious journey for UAE national carrier in a bid to avoid pitfalls it stepped into earlier.

Apr 12, 2019

Will Naresh Goyal return to Jet Airways? All eyes on him as bid deadline nears

Naresh Goyal can offer an expression of interest in Jet's debt resolution plan and has a remote chance of returning to controlling role but will have uphill task convincing lenders to ignore possible objections of Etihad.

Apr 12, 2019

Does Goyal legacy make Jet investment a poisoned chalice for other airlines?

There were reports that Tata Sons, which has major stakes in Vistara and Air Asia India, might be interested in Jet Airways.

Apr 11, 2019

Amazon's super-app offering goods and services bouquet to spur new e-commerce war

Online retailer Amazon is set to leverage newly acquired Tapzo platform to develop super-app for online trade in products and services including flight ticket booking, food delivery and cab hire.

Apr 10, 2019

Downfall of Jet Airways: How India's premium airline crumbled

Jet Airways has posted losses in eight of the past 10 years and its share of the domestic passenger market has fallen to about 15.5% in 2018 from 22.5% in 2015. About 60%, or more than $600 mn, has been wiped off Jet's market value over the past year.

Apr 10, 2019

Meet billionaire CEOs Elon Musk, Mark Zuckerberg who receive annual salary of 1 dollar

Many executives of big companies, especially in Silicon Valley, see it as a point of prestige to not take a large salary. Instead, their earnings come in the form of bonuses and other compensation.

Apr 9, 2019

Jet Airways on borrowed time as investors cold to lenders' rescue plan

The SBI-led banks' consortium hints at investment possibility of up to 75% stake in debt-laden Jet while expression of interest is set to close on Wednesday.

Apr 9, 2019

Mukesh Ambani helped his younger brother Anil Ambani to pay off debt owed to Sweden's Ericsson

RCom insolvency: Ericsson in legal bind as NCLAT hints at lifting stay on case

Appellate company law court observes Ericsson will have to return to RCom Rs 550 crore it got following contempt proceedings in the Supreme Court if the stay on bankruptcy proceedings is lifted.

Apr 9, 2019

What's next for Vijay Mallya after UK court rejects plea against extradition?

Vijay Mallya, who is seeking refuge in the United Kingdom, will submit an appeal for the second time at the London court for an oral hearing.

Apr 9, 2019

Stake sale process of debt-ridden Jet Airways delayed as banks awaits RBI nod

In a bid to turnaround, the fortunes of beleaguered airline, Jet Airways board had decided a plan as per which the consortium of lenders, led by State Bank of India (SBI) would take over the airline's debt and convert it into 114 million shares for just Re 1.

Apr 7, 2019