Bankrupt Jet Airways’ lenders approve resolution plan

News Network
October 17, 2020

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A panel of creditors to Jet Airways India Ltd. approved a resolution plan for the bankrupt airline, bringing a 16-month long process to recover dues to lenders closer to completion.

Jet Airways’ lenders accepted the plans submitted by Murari Lal Jalan and Florian Fritsch, the carrier said in a filing on Saturday. The airline didn’t provide any further details on the bidders or their proposal.

Once India’s largest carrier by the number of passengers, Jet Airways went into bankruptcy in 2019 after it failed to repay mounting debt, reflective of the nation’s struggling aviation sector.

The lenders approved the plan via e-voting, and the carrier’s resolution official will now seek to take the process forward in the bankruptcy court, the company said.

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News Network
September 28,2022

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Hyderabad, Sept 28: AIMIM president Asaduddin Owaisi on Wednesday slammed the Centre for banning Popular Front of India (PFI) saying the "draconian" ban is dangerous as it is a ban on any Muslim who wishes to speak his mind. 

"While I have always opposed PFI's approach and supported democratic approach, this ban on PFI cannot be supported. Actions of some individuals who commit crime does not mean that the organisation itself must be banned. SC has also held that mere association with an organisation is not enough to convict someone," Owaisi said in a tweet.

He added that the way India's "electoral autarky" is approaching "fascism", every Muslim youth will now be arrested with a PFI pamphlet under the UAPA. 

"Muslims have spent decades in prison before being acquitted by courts. I have opposed UAPA and will always oppose all actions under UAPA. It runs afoul the principle of liberty, which is part of basic structure of the Constitution," said Owaisi. 

After years of investigations and demands from BJP-ruled states, the Narendra Modi government on Wednesday banned PFI and its eight affiliates for five years, charging them with being involved in "several criminal and terror cases" and having links with the terror outfits like the Islamic State of Iraq and Syria (ISIS) and Jamat-ul-Mujahideen Bangladesh (JMB).

The ban, which was notified by the Ministry of Home Affairs in the gazette at 5:43 am, came following multi-agency raids in around 15 states, including Karnataka and Kerala, led by the National Investigation Agency (NIA) that led to the arrest or detention of over 350 PFI leaders and activists on September 22 and 27. The MHA said in the notification that the ban was recommended by BJP-ruled Uttar Pradesh, Karnataka and Gujarat governments.

Along with the PFI, its affiliates Rehab India Foundation (RIF), Campus Front of India (CFI), All India Imams Council (AIIC), National Confederation of Human Rights Organisation (NCHRO), National Women’s Front, Junior Front, Empower India Foundation and Rehab India, Kerala were banned under the Unlawful Activities (Prevention) Act, 1967. 

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News Network
September 14,2022

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Bengaluru, Sept 14: The Karnataka government wants to have 35,000 electric buses by 2030, Transport Minister B Sriramulu told the Assembly on Wednesday. 

He was responding to a question by Congress MLA Tanveer Sait who sought details on electric buses in the Bengaluru Metropolitan Transport Corporation (BMTC). 

“There are 35,000 buses. Going forward, given that diesel prices are going up everyday and we’re incurring losses, we want all our buses to become electric by 2030 so that we start making profits. That’s our resolve,” Sriramulu said. 

Sriramulu said diesel buses incur a cost of Rs 68.53 per km. 

At present, 90 electric buses have been pressed into service in Bengaluru for a 12-year contract under the Smart Cities project. The per-km cost for these buses is Rs 64.67. 

Under the union government’s Faster Adoption and Manufacturing of (Hybrid and) Electric vehicles (FAME)-II, Sriramulu said BMTC has been given 75 electric buses out of 300. “We hope the remaining buses will be given to us soon,” Sriramulu said. These buses have a per-km cost of Rs 61.90. 

Also, an order has been placed for 921 electric buses through the Convergence Energy Services Limited (CESL). These buses will incur Rs 54 per km, Sriramulu said. 

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News Network
September 19,2022

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Newsroom, Sept 19: Kerala Governor Arif Mohammed Khan on Monday stepped up attack on the Pinarayi Vijayan government with video clippings showing him being heckled at a Kannur University event in 2019. 

"Whatever happened with me (physical attack) in Kannur had happened in the presence of many police personnel. In the video from then, you can see a senior political functionary, who's now in CM office, preventing police from acting," Khan said in Thiruvananthapuram. 

According to Khan, the heckling he faced there was part of a conspiracy to frighten him into not speaking in public and Vijayan had allegedly told the police not to lodge a case in connection with that incident.

The governor’s anger comes after the ruling CPI(M) on Sunday questioned the former’s meeting with Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat in Thrissur on Saturday night.

“Now we can understand reasons behind his recent outbursts. The Governor has denigrated his position by calling on Bhagwat at the house of a local RSS leader in Thirssur flouting all protocols,” CPI(M) Kannur district secretary M V Jayarajan said, adding that of late he was behaving like a leader of the Sangh Parivar overlooking his duties and responsibilities.

The Governor’s office later confirmed that he had a meeting with the RSS leader and “it was only a courtesy call.” Bhagwat was staying at the house of a local RSS leader in Thrissur after his visit to Guruvayur temple.

Jayarajan also said protest against the Governor during the History Congress session in Kannur in 2019 was spontaneous and it was unfair to call it “an attempt on his life.” “It was a minor incident. He is ballooning it day in and out to get some sympathy. He cannot take out his frustration on the government citing a three- year-old incident,” he said in Kannur (north Kerala).

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