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New Delhi, India's low-cost carrier <keyword id="6358032" type="General" weightage="20" keywordseo="SpiceJet" source="Orion">SpiceJet</keyword> has reportedly not deposited money into the pension funds of its employees for at least 6 to 8 months, a source said. However, a SpiceJet spokesperson told IANS said that the process has already been initiated by the company. "There was a certain deferral in PF but we will be depositing a substantial amount soon and salary disbursement is on time. We are also doing all settlements on time. Everything will be cleared soon. We are hopeful," said the spokesperson. "We are submitting PF together in three to four months and soon it will be cleared," he added. This week on Monday, SpiceJet announced a notable turnaround in its financials for the first quarter, driven by reduced costs which outweighed a decline in revenue. The airline revealed a consolidated net profit of Rs 197.64 crore for the quarter ending June 30. This marked a significant shift from the net loss of Rs 783.72 crore recorded during the corresponding period in the previous year. The impressive upswing in profitability was primarily attributed to a substantial 36 per cent reduction in total expenses for the mentioned quarter, amounting to Rs 2,069.24 crore. However, on Thursday, the Delhi High Court asked low-cost airline SpiceJet and its Chairman and Managing Director (CMD) to pay Rs 100 crore to Kal Airways and its promoter Kalanithi Maran by September 10, failing which the court may consider the attachement of their properties. Appearing for Maran and Kal Airways, senior advocate Maninder Singh submitted that the judgement debtor -- SpiceJet and CMD -- had to file the affidavit of assets and weekly collection within one week which they have failed to file on time and the same has not been filed in a format mandated by this court. On August 9, the court had issued notice on Kal Airways and Maran's application seeking 50 per cent of the daily revenue collection of SpiceJet to be paid to them on a weekly basis. During the hearing on Thursday, Singh further submitted that the order dated February 13 and July 7, passed by the Supreme Court is pre-emptive, conditional and self-operative which has not been complied with till date. Additionally, he submitted that the affidavit filed by the CMD has been filed under sealed cover which has not been served to the decree holders -- Kal Airways and Maran. On the other hand, senior advocate Amit Sibal submitted that the amount calculated by them stood upto Rs 279 crore and not Rs 397 crore, as argued by advocate Singh. He further made an offer to deposit Rs 75 crore within 10 days to which advocate Singh objected and said that they had to pay this amount in April but has not paid till date.

'SpiceJet didn't deposit money into pension funds for months'

<ul><li>Sensex and Nifty began trade on a cautious note on Thursday.</li><li>The Sensex was trading 32 points higher, while the Nifty50 was up 19 points. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex and Nifty started on a cautious note on Thursday amidst mixed cues from global peers. The Sensex was trading 32 points higher, while the Nifty50 was up 19 points. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Chem Industries </td></tr></tbody></table>*as of September 3, 9:50 am These are the top stocks that are buzzing in trade today: Future Retail shares hit 10% lower circuit for the second day in a row Future Retail shares hit 10% lower circuit for the second day in a row even as Fitch placed it on ‘Rating Watch Positive’ post the stake sale to RIL. Also, the Government Pension Fund Global, one of the world’s largest sovereign wealth funds sold 95 lakh shares at ₹158.61 per share on September 1. According to <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-future-retail-escorts-bharti-infratel-biocon-ongc-lt-beml-and-more/articleshow/77864930.cms#:~:text=BEML%20and%20more-,Top%20stock%20movers%20%E2%80%94%20ONGC%2C%20Future%20Retail%2C%20Bharti%20Infratel%2C,Biocon%2C%20L%26T%2C%20BEML%20and%20more&amp;text=The%20Sensex%20was%20trading%201.03,and%20updates%20on%20Business%20Insider.">reports</a>, the Government Pension Fund Global fund held 2.28% stake in the Future Retail at the end of June. IndiGo, SpiceJet shares gains 2%, GVK Infra up 5% IndiGo and SpiceJet shares gained 2%, whereas GVK Infra was up 5% after the Civil Aviation Ministry raised domestic flight operations capacity to 60% from 45% Vodafone-Idea shares gain for the second day in a row Vodafone-Idea shares gained 8% for the second day in a row, during the early trade hours on September 3. The Vodafone-Idea board is due to meet tomorrow for considering the fundraising proposal. <a href="https://www.livemint.com/companies/news/amazon-verizon-may-give-voda-idea-lifeline-11599102122521.html" data-type="tilCustomLink">Reports also suggested</a> that the U.S. wireless carrier Verizon Communications and Amazon.com Inc may invest more than $4 billion for a stake in the company. Dish TV India shares gained 5% Dish TV India gained 5% after the company on Wednesday reported a consolidated net profit of ₹74.54 crore for the quarter ended June. It had posted a net loss of ₹35.44 in the same quarter last year. Tata Motors shares gains 2% after robust growth in overall domestic sales Tata Motors shares gained 2% after it recorded 21.6% growth in overall domestic sales led by 154.0% growth in the passenger vehicle segment. However, the domestic, commercial vehicles segment declined 28% in August. Rossari Biotech shares gained 2% Rossari Biotech shares gained 2% after a financial advisory company, based in London, Plutus Wealth Management, bought nearly 3 lakh shares of the company at ₹773.82 per share. Engineers India shares gained 3% on order form Gail India Engineers India gained 3% after winning an order worth ₹4.48 billion from Gail India for setting up PP plant and pipeline at Uran. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-indusind-bank-indigo-spicejet-coal-india-engineers-india-rossari-biotech-jsw-energy-vodafone-idea/articleshow/77902637.cms" data-type="tilCustomLink">Top stocks to watch— Future Retail, IndiGo, SpiceJet, Tata Motors, IndusInd Bank, Coal India, Engineers India, Rossari Biotech, Vodafone-Idea and more</a>

Top stock movers — Future Retail, IndiGo, Wipro, SpiceJet, Vodafone Idea, Dish TV, Tata Motors, ICICI Bank and more

Bengaluru, <keyword id="6904948" type="UNKNOWN" weightage="20" keywordseo="Embassy-Office-Parks-REIT">Embassy Office Parks REIT</keyword> on Tuesday announced it has successfully completed a <keyword id="10475235" type="UNKNOWN" weightage="20" keywordseo="unit-capital-raise">unit capital raise</keyword> of $501 million through an institutional placement of units. The Securities Committee of the Board of Directors of Embassy Office Parks Management Services Private Limited, Manager to <keyword id="7428315" type="COMPANY" weightage="20" keywordseo="Embassy-REIT">Embassy REIT</keyword>, approved the issuance and allotment of over 11.13 crore new units through this institutional placement in a meeting held on Tuesday, the Embassy REIT said in a regulatory filing. Trading of these units is expected to commence on or around December 24, 2020 on NSE and BSE. "The institutional placement launched on December 15, 2020 and witnessed strong demand from both existing as well as <keyword id="10475234" type="UNKNOWN" weightage="20" keywordseo="new-institutional-investors">new institutional investors</keyword>, including global and domestic investors, pension funds, insurers, and alternative asset managers," it said. Mike Holland, Chief Executive Officer of Embassy REIT said: "The strong demand for our offering amidst market uncertainties and the ongoing pandemic is a testament to the confidence in Embassy REIT's inorganic growth strategy of owning quality office assets such as <keyword id="2223053" type="PERSON" weightage="20" keywordseo="Embassy-TechVillage">Embassy TechVillage</keyword>." The placement issue price of ₹331 per unit represents a discount of 4.99% to the applicable floor price of ₹348.38 per unit calculated in accordance with applicable SEBI regulations, said the filing. Embassy REIT proposes to use the proceeds from this placement to fund its proposed acquisition of Embassy TechVillage that it announced earlier on November 17, 2020, and for general purposes. Embassy REIT is acquiring ETV from the Embassy Sponsor, members of the Blackstone group and other selling shareholders, for a total enterprise valuation of $1.3 billion, subject to closing adjustments. The transaction is expected to close by end of December 2020. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-spicejet-interglobe-aviation-tata-motors-pfizer-asian-paints-niit-lupin-and-others/articleshow/79849749.cms">Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms?upcache=2">Mrs Bectors Food Specialities IPO allotment today: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/startups/news/google-microsoft-invest-in-dailyhunt-for-its-short-video-platform-josh-making-it-the-latest-unicorn-in-india/articleshow/79850804.cms">Google, Microsoft invest in DailyHunt for its short video platform Josh – making it the latest unicorn in India</a>

Embassy REIT raises over $501 million through institutional placement of units

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You Searched For "SpiceJet pension fund" and got 3 results

'SpiceJet didn't deposit money into pension funds for months'

IANS

Top stock movers — Future Retail, IndiGo, Wipro, SpiceJet, Vodafone Idea, Dish TV, Tata Motors, ICICI Bank and more

Navdeep Yadav

Embassy REIT raises over $501 million through institutional placement of units

IANS

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