Deposit ₹18,000 crore guarantee if you want to travel abroad: Court tells Jet Airways founder Naresh Goyal

Agencies
July 9, 2019

New Delhi, Jul 9: The Delhi High Court on Tuesday refused to allow Jet Airways founder Naresh Goyal to go abroad and sought response of the Centre on his plea challenging a look out circular (LOC) issued against him.

Justice Suresh Kait said no interim relief can be granted at this stage and added that he may deposit ₹18,000 crore guarantee if he wants to travel to a foreign country now.

The court was hearing Goyal's plea challenging the LOC issued against him on the ground that as on 25 May when he was de-boarded from a flight to Dubai, no ECIR/FIR was registered against him.

The circular against Goyal was issued by the corporate affairs ministry after it found several irregularities in the airline company, following which Goyal his wife, Anita, were offloaded from a flight to Dubai on 25 May.

On 25 March, Naresh Goyal, the then Jet Airways chairman, had stepped down, paving way for lenders to bail out the financially troubled airline he set up 25 years ago.

Jet Airways suspended operations on 17 April due to severe cash crunch, while struggling with massive debt. The airline’s total liability, including unpaid salaries and vendor dues, is nearly Rs15,000 crore.

Lenders have failed to revive the airline, and the consortium, led by State Bank of India (SBI), sent Jet Airways to the bankruptcy court in June to recover their dues.

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News Network
January 2,2020

New Delhi, Jan 2: Thirteen firefighters were among the 14 people injured when a battery factory collapsed in northwest Delhi's Peera Garhi following an explosion due to a fire that broke out early on Thursday morning, officials said.

A fire brigade personnel still remained trapped under the debris of the building in Udyog Nagar area, an official said.

A large portion of the two-storey building collapsed following an explosion when firefighters were dousing the blaze, the official said, adding that fire department had received a call at 4.23am.

Plumes of smoke billowed out from the building as the fire brigade personnel battled to contain the blaze. An eyewitness said several explosions were heard as the blaze gutted down the building.

The National Disaster Response Force (NDRF) and civil authorities rushed to the spot to control the situation, an official said, adding that 35 fire tenders were at the spot.

The injured, including a security guard of the factory, were rushed to nearby hospitals, a police officer said.

Chief Minister Arvind Kejriwal said he was monitoring the situation.

"V sad to hear this. Am closely monitoring the situation. Fire personnel trying their best. Praying for the safety of those trapped," Kejriwal tweeted.

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News Network
March 11,2020

New Delhi, Mar 11: According to the Union health ministry, there are 62 confirmed cases of coronavirus in the country.

The Delhi High Court Wednesday sought the stand of the Centre and the Delhi government on a PIL seeking proper and adequate measures to combat coronavirus.

A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the Ministry of Health and the Delhi government seeking their replies on the public interest litigation (PIL) filed by an advocate.

The petition, by lawyer Triveni Potekar, seeks directions to the Centre and the Delhi government to make available important and relevant information on access to and availability of medical facilities for testing and treatment for the coronavirus disease.

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News Network
March 20,2020

New Delhi, Mar 20: The coronavirus pandemic will leave behind a global recession with small businesses, self-employed and daily wagers taking the worst hit, Mahindra Group Chairman Anand Mahindra said on thursday.

"The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time. The most fearsome toll will be on small businesses, the self-employed & those whose lives depend on meagre daily wages," Mahindra said in a tweet.

Apart from the toll on lives, the legacy of Covid-19 may well be deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest, he added.

"The only global experience that has lessons for us in the current situation is the last world war. In the aftermath of WW2, the US came up with the Marshall plan to revive Europe, effectively a giant fiscal pump-priming," Mahindra said.

In the US, the government dramatically dismantled regulations and opened up the economy to trade and these actions led to a boom-cycle that stretched to 1975, he added.

"This time, there will be no victors, only the vanquished. So every country will have to create its own post ‘virus war” marshall plan & take care of those in society who are hit the hardest. Perhaps we too can build the foundations of a sustained global growth cycle," Mahindra said.

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