ENS Economic Bureau

Jet Airways defaults on interest payment again; seeks ‘further short time’ to conclude deal

Jet Airways grounded four more planes on Monday, taking the number of aircraft that are non-operational due to non-payment of lease rentals to 41.

SBI board may extend raising of Rs 20,000 crore to Mar 31, 2020

The overall capital adequacy ratio (CAR) of SBI stood at 12.77 per cent, as against the regulatory requirement of 11.325 per cent as on December 31, 2018.

Council to lay down rules for transition into lower GST rates for real estate sector

The 80 per cent sourcing norm is likely to exclude purchase of capital goods so that the major component is from purchase of construction material such as cement and sand.

Larsen & Toubro to acquire 20.32% stake in Mindtree

Larsen & Toubro - Mindtree deal: Will acquire 15% from open market; launch open offer to buy further 31%.

Hotel Leela to sell 4 hotels to Brookfield

The sale proceeds will go to the lenders towards debt repayment as part of the restructuring plan.

Rupee jumps to seven-month high on sustained inflow of foreign funds

In February, FPIs brought in Rs 17,220 crore, taking the total inflows since February 1 to over Rs 38,000 crore.

No ITC for post-supply discounts, rules AAR

To extend discounts after the supply has been made, various companies currently issue a commercial credit note (a credit note without adjustment of GST) for price adjustments in scenarios like post-supply discounts.

Anil Ambani pays up, thanks ‘respected elder brother Mukesh, Nita’

Anil Ambani said, “My sincere and heartfelt thanks to my respected elder brother, Mukesh, and Nita, for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support.”

Amid ‘hostile takeover’ bid, Subroto Bagchi to return to Mindtree

The development comes amid speculation that Larsen and Toubro is in advanced stages of negotiations to buy out a 20.4 per cent stake held by Cafe Coffee Day’s founder V G Siddhartha – Mindtree’s largest shareholder.

RBI: No dilution on February 12 circular over stressed assets

The banking regulator maintained its stand on all the aspects of the framework, as has been consistently articulated in its communications, including the clarification given during the post-monetary policy press conference on February 7 this year, said RBI.

SBI launches cardless cash withdrawal at ATMs

“The ATMs enabled for this service will also be termed as Yono Cash Point. Customers can initiate the cash withdrawal process on the Yono app and set a six digit Yono Cash pin for the transaction. They will also get a six digit reference number for the transaction on their registered mobile number via SMS,” the bank said.

I-T seizes jewellery worth Rs 2.4 crore, Rs 1.4 crore cash during searches in J&K

The tax department, in a statement, said these actions are part of the continued drive against use of black money by disruptive elements in the state.

NCLT to Sterling Biotech lenders: How can you accept settlement plan of absconder

Sterling Biotech was referred to the NCLT in June last year for insolvency proceedings under the Corporate Insolvency Resolution Process (CIRP).

India, US to sign pact for exchange of country-by-country reports

The Income-tax Act requires Indian subsidiaries of multinational companies to provide details of key financial statements from other jurisdictions where they operate.

Airlines across the globe reconsidering decisions to bet on Boeing 737 MAX

Boeing has delivered over 350 of the 737 MAXs. In India, budget carrier SpiceJet and Jet Airways operate the new airliner. Both SpiceJet and Jet Airways did not respond to specific queries on whether the carriers were considering cancelling their orders with Boeing.

At 6-month high, Sensex reclaims 38K mark on surging FPI inflows

The NSE Nifty closed 83.60 points, or 0.74 per cent, up at 11,426.85. Nifty climbed 392 points, or 3.54 per cent, during the week.

Brookfield’s InvIT to invest Rs 13,000 crore for East West Pipeline takeover

As part of the transaction, the India Infrastructure Trust – set up by Brookfield – will acquire 100% equity interest in Pipeline Infrastructure Private Ltd, which currently owns and operates the pipeline, a statement form RIL said.

FSDC panel discusses ways to improve quality of credit ratings

Sebi was represented by Whole Time Member G Mahalingam, while the Insolvency and Bankruptcy Board of India was represented Whole Time Member by Navrang Saini.

Bankers dither on taking Jet Airways to NCLT as govt pushes to keep airline afloat

Sources said bankers have so far refused to take Jet Airways to National Company Law Tribunal for resolution under IBC.

Economists call for raising voice against suppression of data

Indian statistics and institutions associated with it have however come under cloud for being influenced and indeed even controlled by political considerations, joint statement said.