FirstPost on Business: Jet relieved, HC scales down Sahara demand

Here’s what’s leading the business news today:

Jet-Sahara deal: Disclose tax liabilities

It was victory for Jet Airways before the Bombay high court on Wednesday when the court came to a conclusion that “Jet Airways is not liable to pay Rs 2,000 crore” to Sahara Group, but that the liability was of Rs 1,450 crore for the 2007 takeover deal by Jet of Sahara.

Source: Times of India

AI crisis: Govt softens but pilots want it all

informal talks between the government and the sacked Air India pilots, held for the first time since they went on strike last week, achieved little as pilots demanded an immediate interim relief, apart from re-instatement of those sacked and re-recognition of their banned union.

Source: Indian Express

RIL to invest $12 billion in chemicals business to tap healthcare

Reliance Industries is drawing ambitious plans to be a world leader in rubber, and is investing up to $12 billion in the chemicals business to tap the rapidly-growing market for hygiene and healthcare products, Chairman MukeshAmbani said.

Source: Economic Times

Companies rush to buy back shares; cash in on price fall

More and more companies are buying back shares in a volatile market that has pulled down stock prices to tempting levels. Buyback offers not only enable promoters to raise their holdings , such transaction also returns a slice of the cash lying in balance sheets to .

Source: Economic Times

2G scam: ED to grill Kanimozhi on May 12

Days after CBI chargesheeted DMKs Rajya Sabha MP Kanimozhi, Enforcement Directorate on Tuesday slapped Prevention of Money Laundering Act (PMLA) charges on her and summoned her for questioning on May 12.

Source: Times of India

Role of Reliance officials in 2G scam minimal - Soli Sorabjee

The role of Reliance officials involved in the 2G scam was “minimal”, former Attorney General Soli Sorabjee, arguing for accused Gautam Doshi, told justice Ajit Bharihoke on Wednesday.

Source: Economic Times

Unitech Wireless posts Rs 1,046-cr loss

Unitech Wireless, the joint venture between Norway’s Telenor and real estate firm Unitech, has posted a operating loss of Rs 1,046 crore in the first quarter ended March, against Rs 934.9 crore in the year-ago period.

Source: Coal shortage may trip 42,000 MW of new projects

A coal crunch threatens to trip the power sector with a cascading impact on the country’s growth story. With domestic coal production floundering amid a sharp upsurge in power capacity addition, over 40,000 MW of new generation capacity could get stranded over years for want of fuel.

Source: Hindu Business Line