Business

<!-- -->Go First has cancelled all flights till May 12.New Delhi: As Go First awaits the NCLT ruling on its voluntary insolvency resolution plea, the tribunal is set to hear on Monday two petitions seeking insolvency proceedings against the crisis-hit airline.With liabilities of Rs 11,463 crore and a financial crunch, the Wadia group-owned airline has sought voluntary insolvency resolution proceedings as well as...

<!-- -->Blue Dart's revenue rose over 4% in the quarter, while its total expenses rose over 14%Bengaluru: Logistics services provider Blue Dart Express Ltd reported a drop in profit for the second quarter in a row on Friday on continued pressure from higher expenses.The Deutsche Post-controlled company's consolidated net profit fell over 49% to 694.4 million rupees ($8.5 million) in the fourth quarter.Blue...

<!-- -->New Delhi: Capital markets regulator SEBI on Friday put in place a comprehensive testing framework for the information technology (IT) systems of the stock exchanges and other market infrastructure institutions (MIIs).The framework will be for the IT systems of MIIs -- stock exchanges, clearing corporations, and depositories -- throughout their lifecycle, which can assist the MIIs in performing thorough risk assessment before...

<!-- -->SpiceJet said there are no aircraft from the lessor in the airline's fleetNew Delhi: SpiceJet too seems to be facing headwinds, with a lessor filing a plea seeking insolvency resolution proceedings against the no-frills airline and the petition is scheduled for hearing before the National Company Law Tribunal (NCLT) next week.It also comes at a time when competitor and cash-starved Go First...

<!-- -->India's foreign exchange reserves jumped USD 4.532 billion to USD 588.78 billion.Mumbai: India's foreign exchange reserves jumped USD 4.532 billion to USD 588.78 billion for the week ended April 28, the Reserve Bank of India said on Friday.The overall reserves had dropped USD 2.164 billion to USD 584.248 billion in the previous reporting week.In October 2021, the country's forex reserves had touched...