Corporates

Jet Airways said it has reviewed its network and is deploying aircraft on more profitable, productive and economically efficient routes.

Cracking the whip on the embattled Amrapali Group, the Supreme Court warned the property developer and its officials to comply with all its directions. The top court made it clear that Amrapali Group is required to disclose "in clear terms" every activity involving transfer of money since 2008. It asked the Amrapali Group to reveal by December 3 details of all its properties in the name of directors, their family members, relatives, chief financial officers and statutory auditors. The matter relates to non-delivery of flats to around 42,000 home-buyers by the embattled Amrapali Group.

It gave one last opportunity to Amrapali Group and its directors and promoters to comply with each and every direction passed by the court since May last year.

"You can't rush into a complex situation that could cost the group up to $2 billion (143.21 billion rupees) without doing serious homework," the report cited a source as saying.

1,775 entities issued show-cause notice under the Foreign Contribution (Regulation) Act for their failure to submit annual income and expenditure statements on foreign fundings.

Coming down hard on the cash-starved shadow banking industry, the Reserve Bank of India on Monday announced cancellation of registration certifications of 66 non-banking financial companies (NBFCs). Out of the 66 non-banking companies, 22 were based in West Bengal and 18 in Delhi, the central bank said in two separate statements released on Monday evening. These companies "shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934", the RBI said, without citing any reason behind its decision.

Around 1,600 Jet Airways pilots along with engineers and senior management officials have been paid only 50 per cent of the September salary.

Declaring himself "unofficially", the "ambassador of Air India", Mr Khan thanked the ground staff and the pilots for a hospitable journey.

Leading the ranking is Amazon, accounting for 48 per cent share and is likely to make around $252.10 billion this year.

IL&FS has an installed wind energy capacity of 775.2 MW, while GAIL, which wants to expand its renewable energy portfolio, owns 128 MW.

The investment will be subject to statutory approvals and is expected to have no direct bearing on Visa's existing India business, the company said in a statement.

Binny Bansal the chief of Flipkart Group resigned after an internal probe into what parent Walmart Inc said was "serious personal misconduct".

Tata Sons, the holding company of Tata Group, said on Friday it is in preliminary talks with Jet Airways and has made no proposal to acquire a stake in the debt-laden carrier. The statement from Tata Sons came after its board concluded a meeting amid buzz that it could acquire a controlling stake in the debt-ridden carrier. Members of the board, however, refused to talk to reporters after the conclusion of the meeting, which started around noon and lasted for more than four hours. Speculation has been rife in the media that Tata Group is in pursuit of a controlling stake in the Naresh Goyal-led Jet Airways. The cash-starved airline has been struggling to pay its dues on time. Abu Dhabi-based Etihad Airways has a 24 per cent stake in the cash-starved airline, while Mr Goyal owns 51 per cent.

By buying Flipkart, Walmart made Bansal a billionaire and a national icon. By forcing his resignation, the company turned him into an example of the kind of zero-tolerance corporate policy that's come to be expected in the US.

Dismissing the recent reports of a likely merger with Tata SIA Airlines, Jet Airways on Thursday said the news is "purely speculative" and that there were no such discussions in the company's board.