The public sector oil marketing firm stopped supplying fuel to the cash-starved carrier from 12 noon Friday, sources told PTI.(Mint)
The public sector oil marketing firm stopped supplying fuel to the cash-starved carrier from 12 noon Friday, sources told PTI.(Mint)

Indian Oil Corporation stops fuel supply to Jet Airways over non-payment of dues: Report

Jet Airways, in which SBI-led consortium of lenders is set to take management control under a debt-recast plan, has drastically curtailed operations with a fleet of 26 planes.
By Press Trust of India | Mumbai
UPDATED ON APR 05, 2019 03:24 PM IST

Indian Oil Corporation (IOC) Friday stopped fuel supply to the struggling carrier Jet Airways for non-payment.

The public sector oil marketing firm stopped supplying fuel to the cash-starved carrier from 12 noon Friday, sources told PTI.

Response to a query sent to Jet Airways on this issue was awaited.

Jet Airways, in which SBI-led consortium of lenders is set to take management control under a debt-recast plan, has drastically curtailed operations with a fleet of 26 planes.

On March 25, Jet Airways board had approved a resolution plan formulated by SBI-led domestic lenders, under which had agreed to infuse an emergency funding of Rs 1,500 crore into the airline, and convert the same into equity worth 50.1 percent for a notional value of just Re 1 each share.

The airline, however, has not yet received the much-needed funds.

SHARE THIS ARTICLE ON
Close
While OPEC+ is still widely expected to revive some of the 7 million barrels a day they’ve idled, a preliminary meeting of ministers earlier in the day didn’t get into specifics.(REUTERS)
While OPEC+ is still widely expected to revive some of the 7 million barrels a day they’ve idled, a preliminary meeting of ministers earlier in the day didn’t get into specifics.(REUTERS)

OPEC+ silence has oil market second-guessing next supply move

Posted by Prashasti Singh | Bloomberg
PUBLISHED ON MAR 04, 2021 06:17 AM IST
Saudi Arabia and Russia, leaders of group, held bilateral talks on Wednesday, seeking common ground as Riyadh urges caution and Moscow presses to raise output, a delegate said.
Close
Including stores in its theme parks and those owned by others, the company has about 600 retail locations globally. Disney is also evaluating the shutdown of European stores as it rethinks its retail strategy. (Representational Image)(Unsplash)
Including stores in its theme parks and those owned by others, the company has about 600 retail locations globally. Disney is also evaluating the shutdown of European stores as it rethinks its retail strategy. (Representational Image)(Unsplash)

Disney to shut 60 North American stores, 20% of global total

Posted by Prashasti Singh | Bloomberg
UPDATED ON MAR 04, 2021 05:48 AM IST
The company has about 300 Disney stores now, a number that has shrunk dramatically over the years as the world’s largest entertainment company experimented with different ways to get its merchandise to fans.
Close
Six Indian universities were featured in QS’s Environmental Sciences ranking, with IIT Bombay and IIT Kharagpur (151-200) attaining top-200 positions.(PTI)
Six Indian universities were featured in QS’s Environmental Sciences ranking, with IIT Bombay and IIT Kharagpur (151-200) attaining top-200 positions.(PTI)

25 courses by Indian varsities in top 100

By Prashant K Nanda, Hindustan Times, New Delhi
PUBLISHED ON MAR 04, 2021 02:09 AM IST
  • Indian Institute of Science in Bangalore retained its ranks for Materials Science (78th) and Chemistry (93rd).
Close
Vaccines administered at government health facilities will be free, while private facilities cannot charge over <span class='webrupee'>₹</span>250 per dose, the government has said.(File Photo / REUTERS)
Vaccines administered at government health facilities will be free, while private facilities cannot charge over 250 per dose, the government has said.(File Photo / REUTERS)

Infy, Accenture to cover jab cost for Indian staff

Reuters, Bengaluru
PUBLISHED ON MAR 04, 2021 12:21 AM IST
  • India’s vaccination campaign ramped up on Monday, with people above the age of 60, and individuals 45 or older suffering from certain medical conditions, now eligible for shots.
Close
Advances in aggregation, anonymisation, on-device processing and other privacy-preserving technologies offer a clear path to replacing individual identifiers, Google said.(REUTERS)
Advances in aggregation, anonymisation, on-device processing and other privacy-preserving technologies offer a clear path to replacing individual identifiers, Google said.(REUTERS)

Google looks to test interest-based user tracking

By Saumya Tewari, Hindustan Times, New Delhi
PUBLISHED ON MAR 04, 2021 12:17 AM IST
  • The company, which relies heavily on digital advertising using user data, said it will not track individual-level data such as personally identifiable information (PII) graphs based on people’s email addresses.
Close
Worryingly, however, employment declined for the third month in a row, and companies noted the sharpest rise in overall expenses for eight years.(iStock)
Worryingly, however, employment declined for the third month in a row, and companies noted the sharpest rise in overall expenses for eight years.(iStock)

Services expand at fastest rate in a year in Feb

By Asit Ranjan Mishra, Hindustan Times, New Delhi
PUBLISHED ON MAR 04, 2021 12:10 AM IST
  • In comparison, PMI for the manufacturing sector had fallen marginally to 57.5 in February from 57.7 a month ago, data released on Monday showed.
Close
The GST Council is chaired by the Union finance minister and has finance ministers of states as its members.(File Photo)
The GST Council is chaired by the Union finance minister and has finance ministers of states as its members.(File Photo)

GST Council to fix inverted duty anomaly soon

By Rajeev Jayaswal, Hindustan Times, New Delhi
PUBLISHED ON MAR 04, 2021 12:03 AM IST
  • The Council is expected to meet this month, but a date is yet to be finalized, the first person said.
Close
In an interview with Mint, Jalan had earlier said that the ministry had assured the consortium that whatever slot is required will be made availab(File photo: Mint/ Abhijit Bhatlekar)
In an interview with Mint, Jalan had earlier said that the ministry had assured the consortium that whatever slot is required will be made availab(File photo: Mint/ Abhijit Bhatlekar)

Jet owner must apply for fresh airport slots, say authorities

By Rhik Kundu, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 11:56 PM IST
  • Lawyers representing the consortium had earlier insisted that DGCA and the aviation ministry must follow the principle of historicity and grant slots to the revived Jet Airways.
Close
The company also plans to introduce at least five new passenger vehicle models next year to drive sales, the people said.(Reuters)
The company also plans to introduce at least five new passenger vehicle models next year to drive sales, the people said.(Reuters)

Maruti targets record production

By Malayaban Ghosh, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 11:50 PM IST
  • The Suzuki Motor Corp. unit has told its suppliers about its strategies, asking them to ramp up production, the people cited above said on condition of anonymity.
Close
In other regions of Asia, too, markets ended higher, with Hong Kong’s Hang Seng index, China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi climbing 0.5-3%.(Bloomberg)
In other regions of Asia, too, markets ended higher, with Hong Kong’s Hang Seng index, China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi climbing 0.5-3%.(Bloomberg)

Stocks soar over 2% on global rally amid growing optimism

By Nasrin Sultana, Ashwin Ramarathinam, Hindustan Times, Mumbai
PUBLISHED ON MAR 03, 2021 11:49 PM IST
  • The BSE Sensex gained 1,147.76 points or 2.28% to end at 51,444.65, while the Nifty surged 326.50 points or 2.19% to close at 15,245.60
Close
Data available till January end showed this class of tax filers, the biggest chunk of all tax filers, shrank 6.6% from a year ago.(Representational photo)
Data available till January end showed this class of tax filers, the biggest chunk of all tax filers, shrank 6.6% from a year ago.(Representational photo)

Salaried class shrank in FY20

By Gireesh Chandra Prasad, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 11:45 PM IST
  • For those filing returns for FY20 in form ITR-1—people with income from salaries, one house property and farm income up to 5,000—the last date for filing was January 10, 2021.
Close
A pedestrian wearing her facemask walks past a closed sign hanging on the door of a small business in Los Angeles, California on November 30, 2020. (AFP File Photo )
A pedestrian wearing her facemask walks past a closed sign hanging on the door of a small business in Los Angeles, California on November 30, 2020. (AFP File Photo )

Bank of America says US economy is hurt by a lack of workforce diversity

Bloomberg
PUBLISHED ON MAR 03, 2021 11:13 PM IST
“Rule 101 of investing is to diversify investment capital to maximize returns, so why don‘t we do the same with human capital?” an analyst said in a report.
Close
HDFC said customers who have good credit histories can avail new loans at 6.75%. (Abhijit Bhatlekar/ Mint)
HDFC said customers who have good credit histories can avail new loans at 6.75%. (Abhijit Bhatlekar/ Mint)

HDFC reduces interest rates on home loans

By hindustantimes.com, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 09:44 PM IST
  • HDFC also outlined that the changes will affect customers who currently have availed home loan benefits from the lender.
Close
Pulkit Vij
Pulkit Vij

Pulkit Vij of Kamal Associates carries forward father’s ‘budget housing' dream

By HT Brand Studio
PUBLISHED ON MAR 03, 2021 07:09 PM IST
Even during the Covid-19 pandemic, the market continued to grow for Pulkit’s business because of their resolution to provide “Apna Ghar, Sabka Ghar”, which he treats like a daily mission.
Close
The cryptocurrency has been volatile. Prices plunged 21% last week and have recovered with the broad bounce back in equities.(REUTERS)
The cryptocurrency has been volatile. Prices plunged 21% last week and have recovered with the broad bounce back in equities.(REUTERS)

Bitcoin jumps above $50,000 in recovery from last week’s rout

Bloomberg
PUBLISHED ON MAR 03, 2021 06:24 PM IST
The digital token climbed 8% to trade around $51,500 in early US trading, reaching the highest level in a week.
Close
SHARE
Story Saved
OPEN APP