Govt wants FTIL to take over NSEL and its dues
The cash-strapped National Spot Exchange Ltd (NSEL) is set to be merged with its parent, Jignesh Shah-promoted Financial Technologies (India) Ltd, or FTIL, with the government on Tuesday issuing a draft order to this effect. The order comes about a year after a Rs 5,600-crore payment crisis broke out at NSEL, leaving 13,000 investors in the lurch.
July-Sept quarter might bring cheer for FMCG firms
The second quarter of the current financial year could be a turning point for fast moving consumer goods (FMCG) companies, with the much anticipated urban recovery setting in.
Centre clears sixteen airlines but only two take off
Though the civil aviation ministry has given no-objection certificates (NOCs) to 16 companies to launch airlines in the past five years, only two - AirAsia India and Air Costa - have taken off so far.
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