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Mumbai: The city’s economic offences wing (EOW) police have registered a case against four directors of a power generation firm and several others for transferring its compulsory convertible debentures (CCDs) with a face value of Rs 137 crore to another company illegally without the knowledge of key office bearers. The market value of the CCDs is Rs 586 crore.
C Kalaiselvan (35), a director with SKS Power Generation Company Ltd (SPGCL), on behalf of his company, lodged an FIR at the MIDC police station recently.
The SPGCL’s power generation plant is in Chhattisgarh while it’s headquarter is in Mumbai’s Andheri area. Four old directors of the firm have been named as accused in the FIR, which is now being probed by the EOW. “We have registered a case of cheating. The total cheating amount is around Rs 589 crore,” said Niket Kaushik, EOW chief.
Meghmani Organics announced that the National Company Law Tribunal (NCLT), Ahmedabad Bench has approved the composite scheme of arrangement between Meghmani Organics (demerged company) and Meghmani Organochem (resulting company) and Meghmani Finechem (transferee company) on 03 May 2021 and has been uploaded on the NCLT website on 04 May 2021.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) Dear Reader,
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May 02, 2021
Up in the air: When Jet Airways suspended its operations, it had 750 slots, most of which were given away to domestic airlines - THE HINDU
Up in the air: When Jet Airways suspended its operations, it had 750 slots, most of which were given away to domestic airlines - THE HINDU×
Resolution of slot re-allotment is needed for the revival of the beleaguered airlines and the future of other carriers
The weather is still cloudy, as far as Jet Airways is concerned. Consider these two conflicting statements. Two years ago, the Ministry of Civil Aviation (MoCA) said vacant slots of Jet Airways across airports would be allocated to other airlines on a “purely temporary basis”.