News

 

SpiceJet requests deferment on payment of dues, but AAI unmoved

Apr 16 2015

SpiceJet has sought a deferment of three years on the payment of dues of Rs 211 crore to AAI.

Rahul Gandhi returns home from sabbatical

Apr 16 2015

Rahul Gandhi returned home from his 56-day unexplained sabbatical from Parliament.

India must harness clean energy to combat climate change: Modi

Apr 16 2015

PM Modi said India must succeed in harnessing clean energy like nuclear power to combat climate change.

Ola raises $400 million

Apr 16 2015

Ola said it has raised $400 million from a clutch of investors led by DST Global.

Rajnath asks Mufti to take strict action against Masarat, Geelani

Apr 16 2015

The Home Minister directed that strictest possible action should be taken against those involved.

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Global Markets

 

Stocks In News

 

BHARTI AIRTEL

Aircel moves SC to make Airtel clear dues

Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf

Bank guarantees have lapsed and Aircel wants Airtel to pay the money

Alleged that Airtel is trying to usurp the sum

Aircel says without the money it may get liquidated

ET reports

MAX INDIA

Bain joins KKR in race for Max Healthcare stake

PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn

ET reports

NAVNEET EDUCATION

To decide on buy back of shares on Aug. 20

JET AIRWAYS CLARIFIES

Co planning $400 Mn stake sale is speculative in nature

Jet Auditor BSR may quit if issues are not resolved is factually incorrect

Have been pro-actively working on multiple revenue enhancements

Evaluating various funding options to meet liquidity requirements on priority

Relationship with Etihad Airways very strong

No delays in discharging any loan obligations to any of the lenders

Default status in tabular statement only due to technical errors, rectified now

Clarifies that reports of stake sale are purely speculative

Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect

Seeks lenders help in bid to avoid default

Airline wants waiver of loan covenant on existing debt facility of $185mn

Co has to repay or refinance at least $500mn of existing debt to avoid default

Told lenders it won’t be able to meet min $50mn profit condition for FY19

Consortium of lenders yet to decide on Jet’s request

Airline’s total debt was Rs 9430 Cr as on 31st March 18

Mint reports

NSE TO JET AIRWAYS

Have noticed a difference in your responses dated August 9 & 10

Clarify whether mgmt extension from audit committee as per Aug 10 response

Or did Audit Committee not recommend results to board as per Aug 9 response?

In Aug 10 response, details of "Certain Matters Not Closed" not provided

Provide exact reasons for which audit committee has not approved results

Again ask you to give us date when board meet to consider results will be held

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