Friday, Feb 03, 2023
Dec 03, 2021 Outlook Business Team Jet Airways has been acquired by the Murarilal Jalan-Kalrock Capital consortium under the insolvency resolution process. The ongoing discussions are part of the grounded airline's revival plan.
Jun 22, 2021 PTI Jet Airways, which suspended operations in April 2019, has been undergoing a resolution process under the Insolvency and Bankruptcy Code (IBC) for two years.
The airline was grounded on April 17 due to liquidity crisis last year
Mar 05, 2020 PTI ED says a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act
The officials said that Goyal's statement has been recorded under the Foreign Exchange Management Act (FEMA) at the agency's zonal office in Mumbai.
The Enforcement Directorate had carried out searches on Friday at a dozen locations of Naresh Goyal, his firms and partner agencies in Mumbai and Delhi on charges of alleged contravention of the foreign exchange law.
A full-service carrier, Jet Airways shuttered operations on April 17 after running out of cash.
Justice Suresh Kait said no interim relief can be granted to Jet Airways Founder Naresh Goyal at this stage, and added that he may deposit Rs 18,000 crore guarantee if he wants to travel to a foreign country now.
The airline operated last in April this year after it ran out cash, owing over Rs 8,500 crore to the State Bank of India and 25 other financial creditors.
Jet Airways stocks hit an intra-day low of Rs 32.25 per share, falling by a massive 52 per cent. At 1.41 p.m, Jet's stocks were trading at Rs 38.05 per share, down Rs 30.25 or 44.29 per cent.
In 2017, the Mumbai-Delhi Jet Airways flight had made the emergency landing after a note stating that there were hijackers and a bomb on board was found in the plane's washroom.
The disclosure came after Naresh Goyal and his wife Anita Goyal were stopped by immigration authorities at Mumbai airport, minutes before their aircraft was about to take off for London via Dubai.
The couple was to travel by Dubai-bound Emirates flight EK 507 when the immigration authority denied them permission to fly, they said.
Shares of Jet Airways had on Tuesday plunged over 7 per cent and had plummeted over 8 per cent Monday.
Dube's resignation comes as a double blow on Tuesday for the grounded airline as earlier in the day, the company's Chief Financial Officer (CFO) and Deputy Chief Executive (CEO) Amit Agarwal also resigned.
The consortium of 26 lenders which now owns 51 per cent in Jet Airways, had invited expressions of interest between April 8 and 12 and had received four preliminary bids.
The Civil Aviation Ministry decided to allocate the vacant slots at the airports in the national capital and Mumbai to other carriers.
Jet Airways on April 17 stopped operations, leaving over 22,000 employees in the lurch. Of these around 1,300 are pilots and over 2,000 are cabin crew.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.
PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.
PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.
PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.
PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.
PTI Photo/ Shahbaz Khan
He would take his colour, brushes and canvas outside to paint and talk with his love. He would stand close to the window and paint, keeping an eye on his muse.
They say the violin mimics the human sound. In his case, it was that of love, of longing. He didn’t know any other way of loving.
Younger people do not have much progressive beliefs; a 2017 survey found that one-third of young people opposed inter-caste marriage.
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