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PNB's big wilful defaults fall to Rs 153 bn in June

Jul 08 2018

Dues from big wilful defaulters of PNB fell by 0.87 per cent to Rs 153.54 billion on June 30 compared to previous month, the bank data has shown.

Tough times for the King Of Good Times Vijay Mallya

Jul 05 2018

Liquor baron Vijay Mallya’s troubles with the Indian investigative agencies took a turn for the worst when a UK High Court judge issued an enforcement order.

Finally, service tax deptt sells Mallya luxe jet for a paltry Rs 35 cr

Jul 01 2018

After at least four aborted attempts since March 2016, the service tax authorities managed to get a buyer for the confiscated luxury jet of the runway businessman Mallya.

Special court summons Mallya on Aug 27 under fugitive offenders ordinance

Jun 30 2018

A special PMLA court here summoned Vijay Mallya to appear before it on August 27.

Mallya has no change of heart, law is catching up: BJP

Jun 27 2018

The BJP on Wednesday said Vijay Mallya has had no change of heart and he was not willing to clear his loans as the law was catching up with the fugitive liquor baron.

If Mallya wanted to repay debts,he had many years to do so: Akbar

Jun 26 2018

MJ Akbar said if fugitive liquor baron Vijay Mallya wanted to repay his bank dues, he had many years to do so.

I've become poster boy of bank default: Vijay Mallya

Jun 26 2018

Vijay Mallya, who is wanted in India over loan default, said he has become the "Poster Boy" of bank default and a lightning rod of public anger.

High Troubles For Mallya, ED traces cash trail

Jun 19 2018

A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.

ED files fresh charge sheet against Mallya, prepares for fugitive tag

Jun 18 2018

The Enforcement Directorate (ED) today filed a fresh charge sheet against embattled liquor baron Vijay Mallya.

Nirav Modi flees to UK, claiming political asylum: FT

Jun 11 2018

Nirav Modi, has fled to the UK, where he is claiming political asylum, the Financial Times reported, citing Indian and British officials.

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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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