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Jet Airways’ lenders to get bids verified, open to joint bid

Mumbai: According to informed sources, lenders have a limited number of options to recover their outstanding dues worth Rs 8,400 crore. They might also try to stitch a deal involving two bidding parties. “We will first get all (solicited and unsolicited) bids legally verified and after that we will invite the selected parties on to the negotiating table,” a senior …

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1 lakh Indian traders sell products online: Amazon JV

Bengaluru: Amazon-Catamaran joint venture Prione Business Services Ltd on Thursday said it has enabled one lakh small and medium businesses (SMBs) to sell a variety of products online in 100 cities across India and leverage digital payments for growth. The global e-tailer had set up Prione in 2014 with Catamaran, promoted by Infosys Founder N R Narayana Murthy, to encourage …

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Mumbai Metro tie-up with Instamojo

IANS Mumbai Reliance Infrastructure promoted Mumbai Metro One on Wednesday announced a tie-up with payment gateway ‘Instamojo’ to enable card payments aimed at boosting cashless travel. Accordingly, the 4.50 lakh commuters of Mumbai Metro One can now pay for their tickets by debit/credit cards for all kinds of ticketing products like single journey token or return journey token. ‘Instamojo’ is …

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IndiGo flights to connect Kolkata from July 20

PTI New Delhi    IndiGo on May 15 announced that it will start six new domestic flights to and from Kolkata from July 20. Moreover, the no-frills airline said it will start a third direct flight on Delhi-Kathmandu route from July 4. “Effective July 20, IndiGo will operate daily non-stop flights on Shillong-Kolkata and Raipur-Kolkata route with its ATR-18 aircraft,” the …

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ECONOMIC SCAN

‘Consumers Shoppee’ exhibition inaugurated at Panaji PANAJI: ‘Consumers Shoppee’ exhibition of consumer and household products held at Don Bosco High School, indoor stadium, Panaji was inaugurated Wednesday at the hands of Mayor of Panaji, Uday Madakaikar;  Chief Guest Fr Avin Carvalho, Principal and Rector, Don Bosco High School;  Organiser Meenal Mohadikar and various company representatives were present for the function. …

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HDFC ties up with IMGC for mortgage guarantee-backed home loan

PTI New Delhi HDFC May 15 said it has partnered with India Mortgage Guarantee Corporation (IMGC) for a mortgage guarantee-backed home loan. Mortgage guarantee is a financial product which compensates lending institutions for losses that may arise if a home owner defaults on a mortgage loan. The risk of the home loan gets transferred from the bank/FIs to the mortgage …

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Second US lawsuit brought against Aurobindo Pharma

Mumbai: Aurobindo Pharma on Tuesday informed stock exchanges that the company, as well as other firms in the US generic drug industry, are facing a second lawsuit for violation of antitrust laws. This lawsuit, filed on May 10, was the second after the one filed in December 2016. “US states filed a second lawsuit in Federal Court similarly alleging that …

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Skoda opens largest workshop at Coimbatore

Panaji: Skoda Auto, unveiled its largest workshop facility recently at Coimbatore. The new workshop facility spread over 49,585 sqft offers a premium service area with 50 bays and a capacity to serve 20,000 vehicles per annum. The facility has more than 40 dedicated after sales personnel. The service outlet was inaugurated by Zac Hollis, director, sales, service and marketing and …

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Jet CEO, CFO resign as revival hopes fade

New Delhi: Grounded Jet Airways’ Chief Executive (CEO) Vinay Dube has become the latest senior executive to leave the company, further damaging hopes of the airline’s revival. According to a Jet Airways BSE filing on Tuesday: “We wish to inform you that Vinay Dube, Chief Executive Officer of the company, vide his letter dated May 14, 2019, has resigned from …

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ED attaches Rs 483-cr assets of Kolkata business group

New Delhi: Assets worth Rs 483 crore of a Kolkata-based group have been attached by the ED in connection with an alleged multi-crore bank loan fraud case, the agency said Tuesday. The agency said that it has “provisionally attached immovable properties comprising commercially diverted land of 2,70,374 sq ft along with shopping mall in Nagpur worth Rs 483 crore of …

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