ajay singh

SpiceJet’s Ajay Singh to dilute stake by over 10% to raise Rs 3,000 crore amid financial struggles

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SpiceJet’s Ajay Singh to dilute stake by over 10% to raise Rs 3,000 crore amid financial struggles

Ajay Singh, promoter of SpiceJet, is likely to dilute his shareholding in the cash-strapped airline by more than 10% stake in an effort to raise about ₹3,000 crore, said people aware of the development. Singh will remain SpiceJet’s single-largest shareholder after the fundraising, which is expected to be completed by September, the people said, adding … Read more

go first: Go First creditors to take possession of pledged land parcel

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go first: Go First creditors to take possession of pledged land parcel

Mumbai: Lenders to Go First have moved to enforce their rights to a 94-acre land parcel that was kept as collateral against loans taken by the bankrupt airline, even as they have sought more time from the National Company Law Tribunal to complete the resolution process. The lenders last week took symbolic possession of the … Read more