The airline is running 24 out of its fleet of 64 planes, 200 schedules from 600 and have closed down kolkata operations without paying salaries for more than 2 months. They have IT demand notices pending as do BCCI who have not paid since 2009 to the IRS here due to pay INR 15-16 bln for three completed AYs

To top it all, Olympics will see just shooting stars for Indian prospects, close to call with qualifiers barely begun and more to come as airlines shut down operationa from losses

State Electricty Boards owe INR 1.77 tln to banks, Distribution companies another INR 750 bln becoming a priority for funding in the coming budget. The budget will make provision for a new National Electricity Fundthat will give th SEBs a 3-5% interest subsidy on loans it cannot afford to repay based on efficient performance in transmission and distribution. The Distcos are likely headed to a INR 1.16 Tln loss by 2014-15 according to a study conducted for the 13th Finance commission.

Posted via email from The India Investment Post