Odisha CM puts state on flood alert N

Aug 14 2018 | 5 hrs ago

Odisha Chief Minister Naveen Patnaik on Tuesday directed all the district collectors to remain prepared for a possible flood situation as the Met Office has predicted heavy rains in the next two days.

Tobacco area, output shrink as farmers shift to other crops

Aug 13 2018

Tobacco acreage and production in the country have started declining as the government is encouraging farmers in ten states like Andhra Pradesh to shift to alternative crops in a big way, a senior government official said.

Odisha CM invites Chinese team for investors' meet in Nov

Aug 13 2018

Odisha Chief Minister Naveen Patnaik on Monday invited a business delegation of Fujian province of China to participate in the Make in Odisha conclave scheduled in November this year.

Rainfall forecast for next 24 hours

Aug 12 2018

Rainfall forecast for next 24hours at: East : most places: Sub-Himalayan West Bengal & Sikkim; many places: Arunachal Pradesh, Assam & Meghalaya, Nagaland, Manipur,Mizoram, Tripura, Odisha, Jharkhand; a few places: Bihar; isolated places: Gangetic West Bengal.

DGCA to conduct financial audit of turbulence-hit Jet Airways

Aug 12 2018

Aviation regulator DGCA is set to conduct a financial audit of the Naresh Goyal-promoted Jet Airways, amid its fiscal conditions under pressure due to the surging jet fuel prices and low fares, a source said.

BPCL gets green nod for Rs 747 cr ethanol project in Odisha

Aug 12 2018

State-run Bharat Petroleum Corp Ltd (BPCL) has been given green nod for setting up a second generation ethanol plant in Odisha that would entail an investment of Rs 747.46 crore, according to a senior government official.

Water aerodrome proposal gets Civil Aviation Ministry nod

Aug 11 2018

The Civil Aviation Ministry has approved a proposal for setting up of water aerodromes in the country.

Odisha may witness heavy rainfall in next 48 hours

Aug 10 2018

Heavy rainfall is likely to lash several parts of Odisha in the next two days owing to formation of cyclonic circulation in the region, the Met office.

Odisha signs agreement to invest Rs 1,115 crore for groundwater recharge

Aug 10 2018

The Odisha government on Friday signed a subsidiary agreement for the implementation of a project on climate change for massive groundwater recharge.

Odisha govt conducts roadshow to promote investors' summit

Aug 08 2018

Odisha government in association with industry body Ficci today conducted a roadshow in the city to woo investors ahead of its second edition of 'Make in Odisha' conclave scheduled to be held in November.

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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


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


To decide on buy back of shares on Aug. 20


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


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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