BUSINESS
Expression of Interest sought for Go Airlines; will Wadia Group bid for it?
Top officials of Go Airlines had told IANS that the Wadia Group is interested in continuing with the airline business. The Wadia Group had approached the National Company Law Tribunal (NCLT) voluntarily to protect their leased planes from being repossessed in May 2023.
SAT refuses to stay SEBI order on Subhash Chandra, Puneet Goenka in Zee Enterprises matter
SEBI had pointed out in its reply in the matter of Zee Enterprises to SAT that Chairman Emeritus and Managing Director and CEO of this large listed company have diverted public money to private entities.Subhash Chandra and Punit Goenka had moved SAT against the SEBI order.
Foxconn withdraws from JV for chip manufacture, Vedanta to go ahead
Foxconn was supposed to execute a $19.5 billion semiconductor joint venture with metals to oil conglomerate Vedanta. Foxconn and Vendanta had signed a MoU in 2022 to establish semiconductor and display production parts in Gujarat, the home state of PM Modi.
C, say sources
The Registrar of Companies (ROC) Bengaluru merely conducted a preliminary inquiry under section 206 of the Companies Act, 2013, which empowers the registrar to call for any further information, explanation, or document related to a company.
Kal Airlines refutes claims of settlement talks with SpiceJet
The Kal airlines, in a statement, said that it has come to its knowledge that a statement purportedly issued by the spokesperson of SpiceJet Ltd has been circulating among certain sections of the media that SpiceJet Ltd is in talks with Kalani Pvt. Ltd. for an amicable settlement.
India to surpass US to become world's 2nd largest economy by 2075: Report
India is presently the world's fifth-largest economy, trailing Germany, Japan, China and the US. "Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies," said Santanu Sengupta, Goldman Sachs Research's India economist.
Brokers fear industry turmoil after SEBI’s harsh retrospective order on IIFL Securities
Though, Securities Appellate Tribunal (SAT) has suspended the order, the harsh order by SEBI has created panic among industry players, who fear that orders of this magnitude is coming for them that will destroy the industry. A promoter of a large broking firm said: “The SEBI order against IIFL seems to be a clear-cut instance of punishment grossly exceeding the violation and retrospective in nature.”
Digital wallets transactions value to surpass $16 trillion by 2028
“Advanced services give digital wallet providers an opportunity to differentiate themselves in a congested market and generate additional revenue,” said research author Michael Greenwood. Super app strategies, which many digital wallets are pursuing, will rely on the effective deployment of advanced services at scale, he added.
As Go First flies into financial turbulence, its future hangs in a balance
A DGCA official said that the special audit was focused on safety-related aspects, compliance with requirements for holding an Air Operator Certificate, and the physical verification of arrangements made for the resumption of flight operations. Indian low-cost carrier Go First, previously known as Go Air, temporarily ceased its operations on May 3, 2023.
Airline woes mount: Passengers get more violent, pilots violate safety norms
These unsettling occurrences underscore the need for enhanced safety measures and stricter adherence to regulations within the aviation industry. One such incident took place in June, when a male passenger aboard an Air India flight from Mumbai to Delhi shocked fellow passengers and crew members by reportedly defecating and urinating inside the aircraft.
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