Watch Business Standard's BFSI Insight Summit as the best minds of the industry engage in a stimulating conversation on the state of life and general insurance

BS BFSI INSIGHT SUMMIT | Insuring the Insurer

BS BFSI INSIGHT SUMMIT | Session on General Insurance & Life Insurance

SpiceJet on Thursday said aircraft lessor Genesis will acquire a stake worth USD 4 million in the airline as part of settling a more than USD 16 million dispute.
For the settlement, the airline will also pay USD 6 million to Genesis.
The budget carrier, which recently raised Rs 3,000 crore amid financial headwinds, has been settling various disputes with lessors and other entities.
Subject to the settlement terms being satisfied, SpiceJet said both parties have agreed to withdraw all ongoing litigations and disputes related to this matter at the appropriate forums.
In a release, the airline said it has reached an amicable settlement with Genesis, resolving their over USD 16 million dispute.
'Under the agreement, SpiceJet will pay Genesis USD 6 million and Genesis will acquire USD 4 million in SpiceJet equity at a price of Rs 100 per share,' it said.
In September, Carlyle Aviation agreed to convert USD 30 million of lease arrears into SpiceJet equity at Rs 100 per share.
Earlier,

The budget carrier, which recently raised Rs 3,000 crore amid financial headwinds, has been settling various disputes with lessors and other entities

Tata Starbucks scales back store openings amid inflationary pressure and real estate challenges. The company remains bullish on India's cafe market, targeting 1,000 stores by 2028

In the US, users can now also make a phone call to start a conversation with ChatGPT's Advanced Voice

Customers can avail a bank discount of 10 per cent on purchasing any Vivo X200 series smartphone. There are also no-interest EMI options of up to nine months

Union Minister Nitin Gadkari warns live-ins and same-sex marriages defy societal norms, risking the collapse of social structure

The Andhra Pradesh High Court has upheld the right of a lesbian couple to live together, affirming their freedom to choose partners.
A bench comprising Justices R Raghunandan Rao and K Maheswara Rao was hearing a habeas corpus petition filed by Kavitha (name changed), one of the women, alleging that her partner Lalitha (name changed) was detained by her father against her will and kept her at his residence in Narsipatnam.
The Court on Tuesday further directed the parents of Lalitha not to interfere with the relationship of the couple, asserting that their daughter is a major and can make her own decisions.
The couple has been "living together" for the past one year in Vijayawada.
Based on a missing complaint by Kavitha earlier, police traced Laitha at her father's home, and rescued her. After that, she was kept at a welfare home for 15 days though she pleaded to the police that she is a major and wants to live with her partner.
Lalitha also lodged a complaint against her father in

Court further directed the parents of Lalitha not to interfere with the relationship of the couple, asserting that their daughter is a major and can make her own decisions

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

Call for reining in food inflation and raising investment in pre-Budget  talks

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

BS BFSI INSIGHT SUMMIT | Session on General Insurance & Life Insurance

Watch Business Standard's BFSI Insight Summit as the best minds of the industry engage in a stimulating conversation on the state of life and general insurance

Explore News