Even though moving one step at a time, the Jet Airways insolvency case appears to be headed in a positive direction so far. Furthermore as already reported through these columns, the Synergy Group from south America has emerged as the possible suitor though there were still some hurdles to cross before things crystallize.
Reportedly the latest development is that the resolution professional (RP) appointed in the Jet Airways case has since organized meetings for the Group’s executives with the lenders to the airline and also with the officials at the Ministry of Civil Aviation. Further these meetings could be very crucial if the resolution is to make any further progress.
Moreover in the case of the Ministry of Civil Aviation, the thorny issue of the Synergy Group having interests in the airline business and therefore not permitted to hold more than 49% equity under the present laws and guidelines, exists. Apparently October 27 is the next significant date for the case since a proper resolution plan will have to be submitted by that date to the National Company Law Tribunal (NCLT) for its approval.
Appreciation certificate for first voter by EC in Madhya Pradesh In an innovative move by EC today issued a certificate of appreciation to first voter of the day in Chitrakoot district of Madhya Pradesh. Bypolls for assembly elections are undergoing in the state. Election commission of India initiated a novel way to encourage the voters to exercise their franchise enthusiastically, they issued a certificate of appreciation to first voter in Manikpur polling booth in Chitrakoot district of Madhya Pradesh. Uma Shankar was the first voter in the morn
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