Naresh Goyal

A special court here on Monday extended till September 14 the ED remand of Jet Airways founder Naresh Goyal, who has been arrested in a money laundering case linked to an alleged fraud of Rs 538 crore at Canara Bank.  Goyal was arrested by the Enforcement Directorate (ED) on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office here.  The 74-year-old businessman was produced before the special PMLA court at the end of his initial remand on Monday.  The central probe agency sought his custody for another four day for further investigation in the case.  The ED told the court that maximum money siphoned off has been stacked in foreign accounts and there is a person in the United Arab Emirates (UAE) to look after it.  Special judge for cases under PMLA, MG Deshpande, then extended Goyal's custody till September 14.  The money laundering case stems from an FIR of the Central Bureau of Investigation (CBI) ...

Jet Airways

Air operator's permit (AOP) is a prerequisite for any airline to commence commercial operations

In a huge relief for former Jet Airways Chairman Naresh Goyal and his wife Anita Goyal, the Bombay High Court on Thursday quashed the Enforcement Directorate (ED)'s case

Telecom, cellphone, train,

CEO asked to furnish personal guarantee within four weeks; order alarms professional managers

automobile

As many as 70,000 employees of BSNL have already opted for the VRS scheme which was launched last week

This is the first time that the central agency is grilling him after it conducted searches against him last year

The probe agency has also alleged that Goyal's companies executed several 'colourable transactions' under the guise of selling and distribution expenses

Goyal also said the airline has also secured the go-ahead from the aviation ministry to pledge its shares in JetPrivelege for securing the interim funding

'The Naresh Goyal-led airline is in talks to defer or reduce payments to vendors including aircraft lessors and those providing engineering, spare parts, credit card and airport services'

Existing airport infrastructure has not been able to match with growth in passenger volumes: Goyal

Meanwhile, companies like HP and Acer, which do not sell mobile phones in India, are likely to miss out

Apple iPhone

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Byju's

To borrow Rs 6.55 trillion in second half

money, cash, rupees

Senco Gold hit a new high of Rs 590.55, rallied 11% on the BSE in Wednesday's intra-day trade and now quotes at a hefty 86% premium over its issue price in little more than 2 months.

Jewellery, Art Work

Data shows that markets may have mispriced the disinflationary trend that is gaining traction along with a stable demand and supply situation for government bonds, said Parekh

kalpen parekh, dsp blackrock

JP Nadda further stated that developments in railways will lead to a new era of connectivity and help make progress in the realisation of a developed India

Bharatiya Janata Party president JP Nadda

In the viral videos, Raghav was seen being joined by Delhi Chief Minister Arvind Kejriwal, Punjab Chief Minister Bhagwant Mann and several other politicians

Not thinking about an IPO as of now, says chairman

Dr Krishna Ella

iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources.
According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
"Apple has plans to increase production in India to over USD 40 billion in the next 4-5 years. It has crossed USD 7 billion in the last fiscal," the official said.
An email query sent to Apple did not elicit any reply.
Apple manufacturers iPhones in India and has plans to start manufacturing Airpods from next year.
The officer said that Apple has no immediate plans to make iPads or its laptops in India.
"They don't have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels," the officer said.
The company globally sold iPhones worth USD 191 billion and products worth USD

Fractional ownership of real estate is gradually gaining acceptance among investors as assets under management have touched Rs 4,000 crore, according to a report.
TruBoard Partners, a tech-enabled real asset management company, has come out with a report on fractional ownership.
Many private companies have set up fractional ownership platforms that allow investors to own a fraction of real estate assets.
"Fractional ownership typically involves the ownership of an underlying real estate asset among multiple investors. This lowers capital requirements and facilitates participation of a larger set of players in real estate asset ownership," the report said.
Investors infuse their fund in securities issued by a Special Purpose Vehicle (SPV), established by the fractional ownership platform.
These platforms provide a formal channel that enables a group of people to pool in money and jointly own real estate.
"Although the concept of fractional ownership of real estate is at a nascent 

Real Estate, Realty sector, Construction, Realty

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

Aware of the challenge that awaits India against Japan, men's hockey team skipper Harmanpreet Singh said they will need to strengthen their defence and be ready to switch tactics against the defending champions during their Asian Games clash on Thursday.
India habe hardly been troubled so far, having won their first two games with big margins. India defeated Uzbekistan 16-0 in their opening Pool A game last week before mauling Singapore 16-1 in another lop-sided contest.
However, India will perhaps face their toughest challenge yet in the competition when they take on the 2018 Asian Games gold medallists.
"We are aware of the level of competition that we will face tomorrow. Japan have a strong unit and we are familiar with their strengths and weaknesses," said Harmanpreet Singh.
"We have to focus on our own style of play, but we have to also be ready to switch tactics as and when needed on the field to get a good result."
Japan too have been unbeaten in the Games, having beaten ..

India's captain Harmanpreet Singh during Men's Asian Champions Trophy match against Japan. Photo: Hockey India

Harmanpreet Singh

India's Hriday Vipul Chheda, Anush Agarwalla and Divyakriti Singh continued their fine show and moved into medal contention after qualifying for the individual dressage final of equestrian at the Asian Games here on Wednesday.
Astride his horse Chemxpro, Hriday topped the qualification round with total score of 73.883, while Anush, riding Etro, finished fourth with score of 71.706.
Riding Adrenalin Firfod, Divyakriti Singh finished 11th with score of 67.676, while Sudipti Hajela was eliminated.
The top 15 riders in qualifying progress to the final.
The quartet of Hriday, Anush, Divyakriti and Sudipti on Tuesday claimed a historic team dressage gold, breaking a 41-year-old jinx at the continental event.

horse riding

Indian football team captain Sunil Chhetri feels they will have to play as a "cohesive unit" if they are to challenge the mighty Saudi Arabia in their round of 16 match at the Asian Games here on Thursday.
Chhetri is aware of the problems India is facing during their current campaign in Hangzhou. He is also conscious of India's dismal track record against Saudi Arabia and the strength of the West Asian side.
He believes that if India can stick to the right strategies and his young teammates continue to play as a cohesive unit as they did in the three earlier outings, then the pre-quarter-final battle could be a tantalising one.
"We were shown a lot of clips from the Saudi games by our coach, not only the ones that they played here but also a few of their matches from the recent past. He spoke about different ways in which we go out and apply ourselves.
"On the face value, they are a very good side with a lot of good, decent players, who are good with the ball...a lot of quality in 

Indian Football Team's Captain Sunil Chhetri (Photo: Twitter)

The Delhi government's ambitious 'mohalla' bus scheme is expected to be rolled out within the next few months with the DTC likely to sign a contract for procuring electric buses within this week, an official said on Wednesday.
The mohalla bus service, announced in the 2023-24 Delhi budget, aims to deploy shorter nine-metre electric buses to boost last-mile connectivity in areas with roads that have less width or are crowded.
"We are likely to sign a contract with the e-bus manufacturers this week or early next week for procurement of buses. The delivery of buses will take anywhere between three to five months," the official said.
Last week, in an interview with PTI, Transport Minister Kailash Gahlot said strengthening last-mile connectivity is a key focus area of the government.
We have held several consultations and also constituted a committee. I will also be holding one-on-one meetings with MLAs, and councillors to get first-hand experience. We are also planning to hold public .

electric bus

"By FY26, we aim to grow our domestic business to $1 billion and international business to $0.5 billion," Dhir told Business Standard

Sonata Software aims to clock $1.5 bn revenue by FY26; to focus on BFS, health

Jet Airways Chairman Naresh Goyal

Jet Airways founder Naresh Goyal's ED custody extended till Sep 14

Jet Airways looks into abyss as JKC fails to renew its flying permit

Bombay HC quashes money laundering case against Jet Airways founder, wife

SC makes CEOs liable if telecom companies fail to pay AGR dues

Top headlines: PV sales snap 11-month slide in Oct, Uddhav faces acid test

FEMA violation case: Jet Airways founder Naresh Goyal questioned by ED

ED searches Jet founder Naresh Goyal's business, residential premises

Goyal seeks Rs 750-cr lifeline from Etihad, warns delay may ground Jet

Jet Airways trying to renegotiate vendor contracts to cut costs: Report

Higher airport charges, taxation shackle industry, says Naresh Goyal