Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Naresh Goyal Structured Etihad Deal to Get Out of Jet Airways, Says Subramanian Swamy

Once India's largest private airline, Jet halted all flight operations indefinitely last week after lenders led by State Bank of India declined to extend more funds to keep the carrier going.

News18.com

Updated:April 26, 2019, 6:22 PM IST
facebookTwitterskypewhatsapp
Naresh Goyal Structured Etihad Deal to Get Out of Jet Airways, Says Subramanian Swamy
File photo of BJP leader Subramanian Swamy.

BJP leader MP Subramanian Swamy lashed out at Naresh Goyal on Friday for the Jet Airways’ crisis, accusing the airline's founder of deliberately structuring the deal with Etihad to 'get out' of the cash-starved airline.

In 2013, Swamy had filed a writ petition in the Supreme Court against the Jet-Etihad deal. "I was against the Jet-Etihad deal to begin with. I have been in favour of allowing private parties competition, provided they are only in terms of dominant shareholding in the hands of Indians,” he said, adding that it was him who initiated the process as the commerce minister in 1991.

"Today I feel that this was a deliberate act of Naresh Goyal. The way he structured the Etihad deal shows that he really wanted to get out of it," Swamy said.

Once India's largest private airline, Jet halted all flight operations indefinitely last week after lenders led by State Bank of India(SBI) declined to extend more funds to keep the carrier going.

The lenders consortium of Jet Airways is currently in the process of selling the airline to recover their dues of over Rs 8,400 crore. SBI Caps, the merchant banking arm of SBI, is currently shortlisting the investors for submitting their financial proposal by April-end.

Abu Dhabi based Etihad Airways has concluded the due-diligence process before it places its financial bid for acquiring Jet Airways. The other two potential bidders- TPG Capital and the National Investment and Infrastructure Fund (NIIF) have also started their respective processes and are expected to bid jointly with Etihad.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 657.15 -14.42
Yes Bank 55.15 7.30
Reliance 1,421.10 0.34
HDFC Bank 1,242.20 1.07
Indiabulls Hsg 244.40 5.71
Company Price Change %Gain
Infosys 657.40 -14.37
HDFC 2,114.05 0.89
Yes Bank 55.15 7.30
IRCTC 856.00 9.86
ITC 249.85 1.36
Top Gainers
Company Price Change %Gain
Yes Bank 55.20 7.39
Hero Motocorp 2,707.25 2.31
ICICI Bank 447.30 2.17
Grasim 759.95 1.80
Titan Company 1,321.45 1.60
Company Price Change %Gain
Yes Bank 55.15 7.30
Hero Motocorp 2,708.00 2.35
ICICI Bank 447.50 2.23
Bajaj Auto 3,138.95 1.66
Axis Bank 719.25 1.42
Top Losers
Company Price Change %Gain
Infosys 657.15 -14.42
Tata Motors 132.20 -3.40
HCL Tech 1,071.40 -2.20
Asian Paints 1,796.00 -1.14
Tech Mahindra 725.50 -1.18
Company Price Change %Gain
Infosys 657.00 -14.43
Tata Motors 132.20 -3.29
HCL Tech 1,070.95 -2.28
Asian Paints 1,796.30 -1.12
Coal India 204.90 -0.51

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results