Saturday, 25 May, 2019
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Jet Airways employees

Jet Airways CEO Vinay Dube quits within hours of CFO leaving

A Jet Airways statement said the two executives -- Vinay Dube and Amit Agarwal -- were leaving the company with immediate effect.
Jet Airways Employees Protest At Jantar Mantar at New Delhi

Jet Airways’ pilots bid could get a hearing as others waver

A staff-led bid is rare though not without precedent. Pilots of the airline have so far secured a commitment of about $430 million from external investors.
A Jet Airways India Ltd. aircraft prepares to land at Chhatrapati Shivaji International Airport in Mumbai

Deadline for bidding on Jet Airways looms, but there are no takers yet

The Jet Airways deal is important for creditors who are looking to recover more than 1 billion in debt from the carrier.
Latest News on the Indian Economy

Debt-laden Jet Airways plans to sell up to 75 per cent stake

State Bank of India Ltd., the lead creditor of Jet Airways, issued a document on Monday, inviting bidders with a net worth of at least Rs. 10 billion, to submit their interest by April 10.
BJP supporters at a rally in Sumerpur

Electoral bonds worth Rs 1,716 cr issued this year — it’s Rs 660 cr more than all of 2018

The revelations through an RTI inquiry comes as Supreme Court is hearing a petition, seeking a stay on the scheme.

Electoral bonds to be sold during Lok Sabha polls, says govt after press release muddle

Launched in March 2018, electoral bonds are meant to ensure transparency in political funding and offer an alternative to cash donations.
Signage for Essar Steel Ltd. is displayed as workers load items onto a truck at the company's Pune Facility in Maharashtra

India’s bankruptcy law will exist—with dentures in place of teeth

India’s two-year-old bankruptcy regime has been brought to the brink of irrelevance by the strain of resolving its most high-profile case -- Essar Steel India Ltd. Errant debtors are forever looking for ways to undermine creditor protection; but when lenders themselves start making a mockery of a fledgling insolvency law, nobody can save it. That’s where India’s two-year-old bankruptcy regime is today, brought to the brink of irrelevance by the strain of resolving its most high-profile case: Essar Steel India Ltd. The billionaire Ruia brothers have used every trick in the book to ensure their prized asset stays in the family, despite owing financial creditors Rs.508 billion ($6.3 billion) in unpaid dues. Just as the process was crawling to a conclusion, with the lenders accepting ArcelorMittal’s Rs.420 billion bid for the 10 million tons-a-year steel plant, an unexpected wrinkle has emerged. State Bank of India, the largest creditor, has put its...
State Bank of India building in Mumbai | Bloomberg

Edelweiss raises $1.3 billion to profit from an unprecedented bad-loan clean up in India

The company will use the funds to buy and turn around stressed assets
Representational image | Flickr

By 2050, more than 20% of people in south India will be over 65. And that spells trouble

A State Bank of India report says this will put pressure on these states’ infrastructure, and widen income distribution gap between the south and north.
A Jet Airways India Ltd. aircraft in Mumbai | Dhiraj Singh/Bloomberg

All that Jet needed to keep flying was one rupee

There’s still plenty of potential in Jet, provided it can modify its business model, or take that elusive one rupee seriously.

On Camera

Congress headquarters

One in three people at Congress rallies may not have voted for the party: Lokniti-CSDS

Survey data from BJP and Congress rallies during 2019 election suggest that huge crowds are deceiving and don’t translate into votes in favour.
elections

Does Congress have a future in India after 2019 Lok Sabha election results?

The Congress party faced a crushing defeat in the 2019 Lok Sabha elections at the hands of Narendra Modi-led BJP.

Defence

An AN-32 aircraft of the Indian Air Force

IAF workhorse AN-32 gets a fuel that’s green and creates jobs for tribals

The IAF will now run its AN-32 transport aircraft on a blended bio-fuel partly derived from trees. It plans to widen the experiment over the next two years.
Graphic by Soham Sen | ThePrint

Modi era begins in politics as caste factor fades. Here’s why he won’t be easy to beat

BJP's Mandir politics has subsumed Mandal under Modi-Shah and created a pan-Hindu vote. Modi's challenger has to invent a new politics.