 "SBI declares Jet Airways’ liquidation imminent as bidders fail to pay dues, escalating tensions in India’s volatile aviation sector.")
The State Bank of India (SBI) has expressed concern over the ongoing issues with the bankrupt airline Jet Airways, stating that the buyer, Jalan Kalrock Consortium (JKC), is refusing to pay outstanding dues. During a Supreme Court hearing, SBI indicated that liquidation may be the only option left for the airline, as JKC has failed ...
 "Vodafone Idea’s CEO reveals strategies amid crushing AGR dues, as fresh government dialogue and a .6 billion vendor deal emerge.")
Vodafone Idea’s CEO, Akshaya Moondra, has announced that the company is in talks with the government regarding its adjusted gross revenue (AGR) dues amidst ongoing financial struggles. Following a recent Supreme Court ruling against telcos, including Vodafone Idea, which challenged the calculation of their substantial AGR liabilities, the company is focusing on raising debt funding ...
 "SpiceJet secures Rs 3,000 crore through shares, aiding its survival amidst financial turmoil and mounting statutory dues.")
SpiceJet has successfully raised Rs 3,000 crore through the sale of shares to institutional investors, providing crucial support for the airline, which has been facing financial challenges. The Qualified Institutional Placement (QIP) was oversubscribed, attracting notable foreign investors like Goldman Sachs and Societe Generale. Following the share allotment, the company’s equity share capital has increased ...
 "The NCLAT dismissed the state tax department’s dues claim against Reliance Communications, upholding an earlier ruling amid insolvency proceedings.")
The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition from the state tax department seeking dues from Reliance Communications (RCom). The appeal was based on claims made after RCom entered the corporate insolvency resolution process in June 2019. The NCLAT upheld an earlier decision by the Mumbai bench of the National Company Law ...
 "Amid financial turmoil, SpiceJet seeks to raise Rs 3,000 crore, battling significant dues and investor skepticism.")
SpiceJet, facing significant financial challenges with dues over Rs 601 crore, has successfully attracted interest for its Rs 3,000 crore share sale to qualified institutional buyers. The placement has reportedly been oversubscribed, drawing attention from various investors, including several family offices. The funds raised will be crucial for the airline to settle outstanding statutory liabilities, ...
 "Supreme Court to hear pleas from mineral-rich states for recovering dues on royalty after landmark ruling favoring state tax rights.")
The Supreme Court has announced plans to establish a bench to address the claims of mineral-rich states like Jharkhand, which are seeking to collect millions in unpaid royalties and taxes related to mineral rights. This move follows a significant ruling on July 25, where the court determined that states, not the Central government, hold the ...
Struggling with a severe cash crunch, budget airline SpiceJet has decided to furlough 150 of its cabin crew for three months. This latest move highlights the financial challenges the company faces. Find out how this decision impacts employees and the airline’s operations in our detailed report. Download Latest Movies in HD Quality Downloading In 15 ...
