Mint ST : 2019-02-11
CORPORATE : 9 : 05
05 CORPORATE MONDAY, 11 FEBRUARY 2019 NEW DELHI Marks & Spencer to open six more stores in next 60 days bit.ly/2bvcncb Indigo’s flight troubles continue At least 27 Indigo flights were cancelled in Bengaluru on Saturday and Sunday due to staff shortage In the past year, Indigo had to cancel or delay several flights due to the faulty Pratt & Whitney engines Indigo flights were disrupted from across major airports including New Delhi, Mumbai, Bengaluru, Hyderabad 7 flights were cancelled on Saturday and Sunday at Chennai airport, 8 flights were cancelled in Hyderabad on Sunday The company’s founder believes newly-launched coffee decoction business can grow to ₹100 crore in a year An industry official said that pilot and cabin crew shortage at Indigo led to flight disruptions PM Modi wants India to be a gas- based economy and raise the share of gas in India’s energy mix to 15% by 2030. they had been granted time till September to reduce leverage. Reports that mutual funds agreed to such a deal, without receiving additional collateral, has the regulator worried as well. Some experts worry that this is akin to the “ever-greening” phenomenon that got Indian banks into trouble with bad debts.
There are related worries about the structure used for such lending, which masks the extent of leverage of some promoters. The modus operandi is as follows: A promoter entity approaches a credit rating agency asking for a rating on bonds to be issued by it, based primarily on the comfort that the value of underlying shares held by it will always be 150200% of the value of bonds BSE data suggests the total value of shares pledged by promoters stands at ₹2.15 trillion currently, spread across 2,947 firms
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