Articles for tag: Continues, Debts, Dramatically, Faces, Funds, Market, operational, Plummet, Raising, Salary, Settles, Share, SpiceJet, Turmoil

September 26, 2024

SpiceJet settles salary debts and faces operational turmoil, despite raising funds, while market share continues to plummet dramatically.

SpiceJet, a low-cost airline in India, has cleared all pending salary dues for its employees after raising Rs 3,000 crore through a qualified institutional placement. However, it has recently faced significant financial challenges, including a decline in Market share from 5.6% in January 2023 to just 2.3% in August 2024. The airline owes Rs 3,700 ...

September 22, 2024

Market News

Business

NCLAT orders 75% interim distribution of Rs 175 crore for BKEL lenders, sparking dramatic financial tensions amid rising debts.

The National Company Law Appellate Tribunal (NCLAT) has ordered the interim distribution of 75 percent of the escrow funds, totaling Rs 175 crore, held by Baleshwar Kharagpur Expressway Limited (BKEL) to its secured lenders. This ruling came after a request from the State Bank of India (SBI), as BKEL, which has not serviced its loans ...