Top Headlines: Jet Airways' revival, fiscal deficit in Budget FY24 and more

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Jalan-Kalrock Consortium alleged that the lenders are “contorting facts”, deploying “coercive methods” and “purposely delaying” the implementation of the Jet revival plan. Sitharaman is likely to target a fiscal deficit in the range of 5.5-6 per cent of nominal GDP.  

Read more on these in our morning brief of top headlines.

Lenders purposely delaying Jet Airways revival: Jalan-Kalrock tells NCLT

In a fresh twist to the long Jet Airways saga, the Jalan-Kalrock Consortium (JKC), which won the bid to revive the grounded airline, has told the National Company Law Tribunal (NCLT) that the State Bank of India (SBI)-led group of lenders never wanted the resolution plan to be implemented. In its submission dated December 1, the consortium alleged that the lenders are “contorting facts”, deploying “coercive methods” and “purposely delaying” the implementation of the Jet revival plan on some pretext or the other. Read More

Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget

In the upcoming Union Budget, Finance Minister Nirmala Sitharaman is likely to target a fiscal deficit in the range of 5.5-6 per cent of nominal gross domestic product (GDP) in the next fiscal year (FY24), according to people aware of the matter. Read More

Drug, medical services firm PharmEasy may lay off hundreds of employees

Indian drug and medical services firm PharmEasy may lay off hundreds of employees, according to sources. This move is being seen as part of a drive by the unicorn company towards profitability via cost-savings and consolidation, as funds dry up, they said. Read More

NDTV approves proposal to invite two Adani nominees on its board

New Delhi Television Ltd (NDTV) on Friday said its board of directors had approved on Friday a proposal to invite RRPR Holding, an indirect subsidiary of Adani Enterprises, to nominate two directors on its board. Read More

Two-wheeler companies get over 2-year breather on emission sensor

The government has deferred the regulatory requirement of deploying sensors on two-wheelers that can indicate whether the exhaust emission control device is functioning optimally. This comes as a respite for the industry reeling from a protracted slowdown, as the move would have resulted in added costs. Read More