The Supreme Court is to take up hearing of Vijay Mallya’s loan default case on Friday. Earlier, a special CBI court had issued a non-bailable warrant against Mallya in the loan default case after the investigative agency moved an extradition plea against the liquor baron. Mallya, Kingfisher Airlines and nine others, including the then IDBI Chairman Yogesh Aggarwal, who were arrested in connection with the 2015 loan default case, were named in the charge sheet. They were charged with the IPC sections on criminal conspiracy, cheating, and provisions of Prevention of Corruption Act.
2) The Nationalist Congress Party is to hold a core committee meeting on Friday to introspect on its poor performance in the recently held municipal corporation and zilla parishad (district council) elections in Maharashtra. This would be followed by a meeting of all its senior leaders on Saturday. Both meetings will be headed by party chief Sharad Pawar. The meetings would also consider the political situation in the state in the aftermath of the civic polls. NCP lost power in four municipal corporations, including Pune and Pimpri-Chinchwad, in the state’s western region. It also lost the municipal corporations in Solapur and Amravati, where it had ruled with its ally, the Congress. The NCP dropped from the top slot to the second position in the zilla parishad elections, despite its reputation as a party that has a strong rural base.
3) Welspun Enterprises’ Rs 270-crore buyback offer will open on Friday. Welspun Enterprises, part of the $2.3-billion Welspun Group, had earlier announced plans to buy back up to 25 per cent of its share capital at Rs 62 per equity share in cash for an aggregate consideration not exceeding Rs 270 crore.
4) Italian supercar maker, Lamborghini, is to launch its recently introduced new flagship car, the Aventador S, in the Indian market on Friday. This will be Lamborghini’s second launch of the year after the Huracan RWD Spyder that was launched on February 1, 2017. The Aventador S features an entirely new front bumper, rear bumper, diffusers and air intakes. All the changes have been made to achieve maximum aerodynamic efficiency.
5) The inaugural NEXA P1 Panther Powerboat Indian Grand Prix takes off on Friday in the Arabian Sea off South Mumbai’s Marine Drive. Promoted by Procam International-promoted, the three-day event has a prize money of $125,000. Six teams with two boats each — HVR Racing, Lloyd Dolphins, Baleno Rs Booster Jets, Ultra Sharks, MoneyOnMobile Marlins and The Mirchi Maverics — will feature in time trials on Friday to determine the start position for Race 1 on Saturday. The P1 Powerboat is a single design vessel with everything, including the engine and the propeller, of custom made specifications.