Jet Airways to file for bankruptcy this week

Insolvency proceedings against Jet Airways are likely to begin this week as a consortium of lenders led by the State Bank of India (SBI) failed to find a buyer for the beleaguered airline.

Jet Airways: The Joy of Flying nears end

Once India’s biggest private carrier, Jet Airways stopped flying in April after running out of cash. With no more investors in hand, lenders to Jet Airways have decided to file for bankruptcy.

DoT wants to reclaim spectrum of bankrupt Aircel, RCom

In a move that will make Aircel and Reliance Communications less attractive to buyers and smack their lenders, the department of telecommunications (DoT) intents to oppose the sale of spectrum held by bankrupt telcos during the insolvency resolution process,

9 entities including Deloitte face bans in IL&FS Scam probe

Ministry of Corporate Affairs files complaint in IL&FS scam | In a process to bar 9 auditors and audit partners.

Pennar Industries Reports 24.3% Increase in Consolidated Net Revenue and 13.7% Increase in Consolidated PAT (Excluding Non-recurring Item and Exceptional Item)

HYDERABAD, India, May 28, 2019 /PRNewswire/ — Pennar Industries Limited (PIL), a leading value-added engineering products and solutions company, today announced its audited financial results for the fourth quarter and twelve months ended on March 31, 2019. Consolidated Financial Highlights…

Tata combines Global Beverages and Chemicals businesses

Tata Global Beverages and Tata Chemicals to combine consumer businesses Tata Global Beverages Limited (TGBL) and Tata Chemicals Limited (TCL) on Wednesday approved the de-merger of consumer products business of TCL into TGBL through a National Company Law Tribunal (NCLT)…

Dalmia Bharat Limited: Maintaining Financial Prudence

NEW DELHI, May 10, 2019 /PRNewswire/ — Dalmia Bharat Limited announced its audited consolidated financial results for the Quarter and financial year ended March 31, 2019.      (Logo: https://mma.prnewswire.com/media/681292/Dalmia_Bharat_Limited_Logo.jpg ) Particulars (Rs. Cr.) Q4FY19 Q4FY18 FY19 FY18 Sales Volume (MnT)…

SFIO arrested former chairman of IL&FS Hari Sankaran

SFIO arrests ex-IL&FS chairman Hari Sankaran The Serious Fraud Investigation Office (SFIO) has arrested former chairman of Infrastructure Leasing & Financial Services (IL&FS) Hari Sankaran in connection with the ongoing investigation into the affairs of the company and its group…

RCom vs Ericsson: ‘Anil Ambani’ faces jail term

Anil Ambani’s RCom debacle has reached a stage where he faces a jail term for non-payment of dues. Who is to blame? DKODING NEWSLINE : Feb21,2019| New Delhi  HEAD SHOT: On the petition of Ericsson, the Supreme Court has held…

Newsline | Anil Ambani: Where did it all go wrong?

The bankruptcy filing of RCOM is only the latest in a series of bad news for Anil Ambani. The decline of his empire is a stark lesson on the perils of over-leverage and excessive diversification. RCOM’s debacle is symbolic of…