· Bombay HC adjourns Jet-Sahara case
Bombay HC adjourns Jet-Sahara case
The Bombay high court on Tuesday adjourned a case on dues between Jet Airways (India) Ltd and Sahara India Commercial Corp. Ltd (SCCL) to 3 August.
On 16 June, a division bench of chief justice Mohit Shah and Justice G.S. God bole admitted SCCL's appeal demanding money from Jet Airways.
Sahara India had appealed against a 5 May order by a single bench of the court asking Jet Airways to pay `478 crore, including interest, and demanded more money and interest from Jet Airways, which acquired Sahara Airlines from Sahara India.
Chambal to demerge shipping business
Chambal Fertilisers and Chemicals Ltd announced Tuesday the demerger of its shipping business into a separate company--India Steamship Ltd --presently a wholly owned subsidiary of Chambal.
As per the scheme approved by the board, Chambal shareholders will be issued shares of India Steamship Ltd.
“The nature of risk and competition involved in the shipping business is distinct from other businesses carried on by Chambal and the shipping business is capable of attracting a different set of investors, strategic partners, creditors and other stakeholders. The demerger will result in shipping business becoming an independent, legal entity”, the company said in a release.
(Source-: mintlive.com)
