Govt could see deal as win considering airline’s dire debt spiral. Meanwhile, Tata should see scale of losses reducing quickly, & no more political attacks from ministers.
The Tata Group is expected to take full control of the airline Thursday. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
IPL chairman Brijesh Patel confirmed the news Tuesday. BCCI secretary Jay Shah described it as a 'momentous' occasion for the cricket board and the league.
The group plans to reclaim ground in the beauty business it exited 23 years ago, with the local market for cosmetics forecast to be worth $20 billion by 2025.
Air India had ceased to be an option for many fliers. But with its return to the Tata Group, there are high hopes and a threat for IndiGo, SpiceJet and other players.
A share purchase agreement will be signed in 14 days, and target is to close deal by December-end, Investment and Public Asset Management Secretary Tuhin Kanta Pandey says.
An official announcement is expected in the coming days. For Tata Sons, the recommendation means it’s coming back to an asset it started almost 90 years ago.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
A common thread runs through the memories of soldiers of the 1965 war—ingenuity, courage and camaraderie that withstood an apparently technologically superior foe.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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