Jet Airways will announce its Q1 results today after deferring it two weeks ago. The board of directors will also consider cost reduction initiatives and turnaround plan in today’s board meeting. The Corporate Affairs Ministry has sought details from the crisis-hit airlines on the postponement of quarterly results and other financial issues.
The deadline set by the Reserve Bank of India to finalise on the resolution plans is set to expire today. Many major banks are working to avoid bankruptcy proceedings against over 70 large stressed accounts worth Rs 3.8 trillion. Failing to meet the deadline, these accounts will be referred to NLCT.
Election Commission has called for an all-party meet today in Delhi to discuss issues related to 2019 General Elections process. Some of the issues to be discussed in today’s meet include fidelity of electoral process and gender representation in political parties. The EC would also take suggestions from the parties on measures to improve accuracy and transparency in the upcoming polls.
Ducati Scrambler 1100 will debut in India today. Expected to be priced around Rs 11 lakh, this will one of the most expensive bikes in the Indian market. This retro-styled motorcycle, will compete with Triumph Scrambler in the market.
NCLT is set to announce its order on Lanco’s liquidation plea today. The Resolution Professional filed the plea in the backdrop of Committee of Creditors rejecting the revised bid by the Thriveni Earthmovers. Notably, Lanco Infratech is one of the first 12 accounts listed by the RBI.