A clutch of investors lead by former director and co-founder Ajay Singh is set to pick up a significant stake in the embattled SpiceJet, leading to an immediate capital infusion of Rs. 1200-1500 crore in the budget carrier that is staring at a shut down.
The government on Thursday released draft rules for e-auction of cancelled coal mines in an approach paper that is open for public consultation. The coal ministry has sought comments from stakeholders by Monday.
With SpiceJet on the verge of a financial collapse, the aviation ministry has proposed a number of steps that should be taken immediately to help India’s bleeding airlines.