Latest India Business News 19th April 2019
– The government may allocate 440 vacant Jet Airways vacant slots at Delhi and Mumbai airports to other airlines. The lenders have asked the government to retain 40 percent slots to ensure kick-start of operations by the new owner after taking over.
– Bombay High Court has refused to intervene and said that it cannot direct govt and RBI to rescue a sick company.
– President of Jet Airways union has called for CBI investigation into the matter alleging a conspiracy to oust Naresh Goyal.
– IATA has suspended Jet Airways membership from its clearinghouse system. This may impact the refund process to passengers.
To meet the increased demand due to the suspension of Jet Airways, SpiceJet is expecting to induct 27 planes in the next two weeks.
GVK Power and Infrastructure have agreed to offer 49% stake in GVK Airport Holdings to Abu Dhabi Investment Authority and National Investment and Infrastructure Fund. GVKAHL holds 74% equity stake in Mumbai International Airport.
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CBDT has identified 20.4 million non-filers between 2013 and 2017 and asked I-T dept to take action.
JSW Infrastructure has elevated Arun Maheshwari as new joint MD & CEO, Currently Executive VP, Maheshwari has experience of over 25 years in the steel industry.
As per the data collected by EY, India received $35.8 billion in PE/VC investments in 2018, 37% higher than $26.1 billion received in 2017.
Amazon is reportedly planning to close its Chinese marketplace business by July this year. It will keep running other businesses including Amazon Web Services, Kindle e-books, and cross-border operations in China.
Stellar Value Chain, backed by Warburg Pincus, has acquired Patel Roadways, a company operating in the express logistics segment. The acquisition of Patel Roadways will strengthen Stellar’s operational capabilities and increase its road network reach to over 350 branches.
Oyo has launched a partner engagement program to offer more financial and technical support to hotel owners. Oyo works with around 8,700 hotel operators across 259 cities in India and South Asia.