Aircel-Maxis case: Enforcement Directorate attaches Maran and his brother's properties worth Rs 742 cr
The ED attached assets worth Rs 742.58 crore in the name of former Telecom Minister Dayanidhi Maran, his businessman brother Kalanithi and other family members in connection with its money laundering probe in the Aircel-Maxis deal.
Special CBI judge OP Saini issued notice to the CBI seeking their response on the pleas field by the Maran brothers on 3 August.
Sources told CNBC-TV18 that the airlines will see significant rejig of the top management but people at junior and mid levels will not be disturbed.
The scrip, listed on the BSE, jumped 17.79 percent to Rs 23.50. It had opened at Rs 22.80 and touched an intra-day high of Rs 23.50.
With the aviation regulator permitting advance bookings and Singh pumping in initial funds, the company seems to have come out the dire financial situation now
The apex court said the Marans could state before the Special Court that the Aircel-Maxis case was not part of the 2G spectrum scam and therefore cannot be heard by the designated judge who has been nominated to hold prosecution of the cases exclusively arising out of the 2G scam.
The Supreme Court today refused to entertain the plea of former Telecom Minister Dayanidhi Maran and his brother Kalanithi Maran in the Aircel-Maxis case
Kalanithi Maran, his wife Kavery and Managing Director S Natrajhen have resigned from SpiceJet since it is being acquired by Ajay Singh
SpiceJet has been struggling to pay its bills due to a cash crunch and had briefly grounded planes in December.
The offer is applicable on all direct flights on SpiceJet's domestic network
The airline had also submitted a "scheme of reconstruction and revival" for the takeover of ownership, management and control of the airline by the new promoters to the civil aviation ministry for its approval.
The DGCA had earlier restricted SpiceJet to take advance bookings only up to 31 March.
While the company did not disclose the financial details of the deal and revival plan, official sources said that overall the deal size could be worth Rs 1,500 crore in three tranches.
The airline is also believed to have renewed its bank guarantee to Airports Authority of India
The cash-strapped budget carrier had presented a revival plan to the civil aviation ministry late last month, but it was told to submit a revised comprehensive plan with more details.
According to the latest update on the airline's website, over 300 flights have been cancelled till 31 January 2015, which include mostly domestic flights and a few connecting Nepal and Afghanistan.
Singh and his partners need to pump in some money by next week or convince the ministry of civil aviation that they have an iron clad investment plan.
The Chief Operating Officer of Sun TV was on Friday arrested by the police in Chennai over a sexual harassment allegation by a former woman employee.
Will Singh's sportsman spirit and business acumen lift SpiceJet out of the trouble? The answer is anybody's guess.
Over 150 flights of the airline, which has 243 scheduled services a day, were cancelled, as many of the hundreds of harried passengers across the country got into heated exchanges with helpless SpiceJet staff at airports.