Today's Meeting with SBI, Hinduja & Etihad in Abu Dhabi

Update on today's meeting with Hinduja, Etihad, SBI, NareshGoyal and few other minority Stakeholders.

As reports suggest the proposed  Mahagathbandhan for Jet Airways will be;

Option-1

30% Hinduja
24% Etihad
25% AdiGro
10% Naresh Goyal
10% Public

As per the reports SBI may waive off 80% Loan and take 10% stakes from Naresh Goyal and another 10% from Etihad.

Post consortium the stakes will be;

Option-2

30% Hinduja
14% Etihad
25% AdiGro
20% SBI
10% Public


As per the discussion it is believed that the airline is ready to hit the skies by the first week of July.

7 points why Hinduja-Etihad consortium might not save Jet Airways

The Hinduja-Etihad proposal is a non-starter and here are the reasons why:

1. With the new investment in equity by Hindujas to hold 51%, Etihad’s current stake will get diluted and they have already committed that they will only bring in Rs.1700 crores to maintain their 24%.  This  means that they are already pegging the price per share at Rs.304.

2. So, Hindujas have to invest at that price only of Rs.304.  So, to hold 51%, they need to bring in about Rs. 5373 crores.

3. This still leaves Goyal with 16.7% of the company which Etihad does not want.  Etihad wants Goyal to be less than 10%.  This means that an additional shareholder has to come in to reduce Goyal to below 10%.

4. In all this restructuring, the minority individual shareholders and domestic institutional shareholders are reduced to 8%.  This is against the SEBI listing norms where at least 25% of the shares should be with the public.

5. So, if Hindujas have to invest in Jet, they need to first buyout the public shareholding of 283.75 lakh shares at the same value that Etihad has put for its current offer – Rs.303.57 per share.

6. Once Hindujas buy out the public shareholding for about Rs.861 crores, they still have to bring in about Rs.5,000 crores to have 51%.

7. With all this, the total money that all these investors will bring in is only about Rs.7,000 crores – a trickle of what is needed to revive Jet Airways.

Therefore, reports suggest the Etihad-Hinduja plan will not see the light of day.

Reports reveal Hinduja is set to meet Etihad in Abu Dhabi tomorrow for the discussion. We might have to wait a little longer to obtain some clarity on the future of Jet Airways.

What do you think? Leave your comments below.

Vivek Oberoi deletes the tweet & apologizes

A meme, a joke, a funny post & a celebrity is trolled till he breaks.

While the whole world cracks funny jokes, mean sarcastic statements or funny liners, however, when a poor actor does it on a lighter note, every Indian becomes an advocate & every woman transforms into judges.

Celebrity actor Vivek Oberoi shared a meme on the life of actress Aishwarya & Salman Khan, which is nothing secret where even he was involved at a certain point in time.

Been years we have heard millions of such jokes.

However, the poor actor got lashed out so bad: by his celebrity pals, by the media & by Indian women self-proclaimed judges.

Apology tweet

Finally, due to immense pressure, the actor deleted the tweet & issued an apology statement.

What Vivek has to say on this:

"Is there anything wrong in it? Is there some abuse in it? Is there any obscene picture in it? It is just a creative meme made at the time of elections. I saw it and laughed. I have no problem in saying sorry as I am an expert in saying sorry. But, please, tell me what wrong have I said?"

If you notice he makes sense. Indeed we could not find any derogatory remark, abusive words or obscene content.

The apology is a fitting reply to all the advocates in India that the meme was not offensive & if it is to anyone then he the person who must actually apologize is the creator of the meme & not the actor who just replied to the creativity.

Media, in favor of Salman Khan?

Seems the Media has created something out of nothing; is it for their love for Salman Khan?

What do you think? Vivek Oberoi's apology justified? Pls leave your comment below.

Woman thrashed mercilessly by a mob in Noida

You may ask how safe are women in Delhi? Watch the video to find how a woman is thrashed by a group of men on 11th May 2019 in Greater Noida, Uttar Pradesh. 

Video shared in a tweet by Bhartendu Sharma

Why?

The woman worked as a makeup artist at a salon had come to collect her dues as asked by the owner of the salon. However, the owner was seen dragging the woman by her hair & beating with a stick. How cruel is that?

The real reason:

The woman asked the owner for the salary Rs 17000 however, one of the owners Waseem demanded sexual favor in return.
On Saturday the woman was asked to collect the salary from the office. However, another owner Shera tried to rape the woman. When she resisted the group of men thrashed her in public.

Action by police:

Though the case has been registered no arrests have been made so far.
The woman said: “However when I reached the police station on Saturday, they took my complaint but did not act on it seriously.”

Justice?

All the men escaped & police are searching (as always) the accused.
While this is a very sad incident the question on the safety of women still remains unanswered.
What can we do to stop such harassment?

Is Delhi really unsafe for women?

Game of ThronElections - Jet Airways Fate still undecided

While we saw 4 solicited bidders emerge for Jet Airways revival, only one held the game.
Etihad Airways with no bids only wish to raise 1700 crores.

Over to AdiGro!

AdiGro is the only hope if they partner with Etihad Airways.
As per Sanjay Viswanathan, Chairman, ADIGroup, the group is willing to bring in 2400 crores.

With the discussion of Sanjay Viswanathan & Priyanka Iyer, BTVI Live journalist we may extract some important points:

1. 40 - 60 days for revival the revival process & restart of operations
2. Adigro + Etihad (49% both inclusive) need an indian partner (to bring in 51% stakes)
3. A small amount of money to be infused by May end (which may or may not include salaries of employees)
4. Small airline with around 70 fleet & limited slots means limited employees (major lay off expected)