Eight Indians in Fortune List of Powerful Asia-Pacific Women

Kozhikode, Apr 4: In a bid to maintain the lockdown amid COVID-19 outbreak, Police in Kozhikode is monitoring the situation using drone cameras and making sure that people are not breaking the law.

The police have so far arrested 41 persons who were out on a morning walk on Saturday during the lockdown in the backdrop of coronavirus outbreak.

The SHO of Town South Police Station informed that the accused were later released on bail.
At least 295 cases have been reported in the state so far.

Talking about COVID-19 testing, State Health Minister KK Shailaja told media: "Nine labs are conducting polymerase chain reaction (PCR) tests in Kerala. We've received 2000 rapid test kits and will start rapid tests from tomorrow. If a person tests positive in rapid test, we need to confirm it with PCR test."

The total number of COVID-19 positive cases in India climbed to 3072 on Saturday, according to Ministry of Health and Family Welfare.

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

New Delhi, Feb 26: With the government pushing for the disinvestment of Air India, industrial conglomerate Adani Group may emerge as one of the bidders for the debt-laden national carrier, sources said.

According to highly placed sources, the Group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and the discussions are still in the preliminary stage.

If the company actually submits an EoI, it would be a major move towards further diversification of the company which has business interests across sectors right from edible oil, food to mining and minerals. 

It also entered into airport operations and maintenance business and won bids for privatisation of six airports, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram and Mangaluru in 2019. 

On being contacted by IANS, the company did not comment on the matter.

Air India is one of the most important divestment proposals for the current fiscal to reach the huge Rs 2.1 lakh crore target.

The government in January restarted the divestment process of the airline and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Ltd. and 50 per cent in Air India SATS Airport Services Private Ltd.

After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake. In 2018, it had offered to sell its 76 per cent stake in the airline.

Of the total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286 crore.

Air India, along with its subsidiary Air India Express, has a total operational fleet of 146 aeroplanes.

Further, the disinvestment department has extended the last date for submission of written queries on the Performance Information Memorandum and Share Purchase Agreement to March 6.

The last date for submission of written queries on PIM and SPA was originally set for February 11, following which the Department of Investment and Public Asset Management (DIPAM) on February 21 issued 20 clarifications on the queries raised and expected.

Any delay in the tentatively rolled out timeline would also delay DIPAM's plan to identify the pre-qualified bidders by March 31 and the financial bids invitation as well. It is expected to take more than two months after the selection of the pre-qualified bidders to complete Air India's sale.