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The <keyword id="6396354" type="General" weightage="100" keywordseo="national-company-law-appellate-tribunal" source="Orion">National Company Law Appellate Tribunal</keyword> (<keyword id="6396355" type="General" weightage="20" keywordseo="nclat" source="Orion">NCLAT</keyword>) on Monday will hear the appeal filed by three <keyword id="11252024" type="General" weightage="20" keywordseo="go-first" source="Orion">Go first</keyword> lessors -- SMBC Aviation Capital Ltd, SFV Aircraft Holdings and GY Aviation Lease Court Ltd -- challenging the order passed by the National Company Law Tribunal (NCLT) of interim moratorium and insolvency resolution proceedings. NCLAT on Friday deferred the matter pertaining to Go First lessors' petition seeking a stay on a bankruptcy court order allowing voluntary insolvency of the low-cost airline to Monday. On May 10, the NCLT admitted Go First's plea for voluntary insolvency and admitted for the initiation of Corporate Insolvency Resolution Process (CIRP) proceedings. NCLT has granted Go First protection under a moratorium from recovery by lessors and lenders. NCLT, in its order, said, "We admit the plea of Go Airlines for insolvency proceedings. It said that we appoint Abhilash Lal as IRP (insolvency resolution professional)." "The suspended board of directors will cooperate with the IRP. Suspended directors are also ordered to deposit Rs 5 crore to make the immediate expenses," the order stated. The budget airline had also cancelled all the flights' operations till May 19 due to operational reasons, "Go First flights until 19th May 2023 are cancelled. We apologise for the inconvenience caused and request customers." US-based jet manufacturers Pratt and Whitney (P-W) has defended itself against the budget airline's claim that P-W is responsible for the financial condition and bankruptcy. "Go First's allegations that Pratt and Whitney is responsible for its financial condition are without merit. Pratt and Whitney will vigorously defend itself against Go's claims, and is pursuing its own legal recourse," Pratt and Whitney spokesperson told ANI. The airline, owned by the troubled Wadia Group, had earlier blamed P-W for the faulty engines that led to its ongoing financial crisis and it was later forced to file an involuntary bankruptcy petition. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/8-things-that-google-bard-can-do-but-chatgpt-cannot/articleshow/100187360.cms">8 things that Google Bard can do, but ChatGPT cannot</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-silence-fake-calls-from-unknown-numbers-on-whatsapp/articleshow/100186824.cms">How to silence calls from unknown numbers on WhatsApp</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-is-cracking-down-on-international-scam-calls-after-indias-it-ministry-takes-notice/articleshow/100177253.cms">WhatsApp is cracking down on international scam calls after India’s IT ministry takes notice</a>

National Company Law Appellate Tribunal to hear Go First lessors' plea today

A car dealer from Mumbai would never have thought that his seamless debut in the world of <keyword id="3047629" type="UNKNOWN" weightage="100" keywordseo="Pokemon-Go">Pokemon Go</keyword> would cost him Rs. 15,000-20,000, along with denting memories of an accident. 
 
26-year old Jabbir Ali from Bandra got his Mercedes rammed by an auto rickshaw as he sat inside, learning the extremely popular game from his brother while stuck in a jam. The accident didn’t thankfully injure anyone but the car had to be sent to the garage wherein the repairs would cost Ali something between 15,000 to 20,000 rupees. 
 
Ali has now decided to raise awareness about the harms of playing the game on streets, posting his story and images of his damaged car on social media. 
 <keyword id="36730" type="ORGANIZATION" weightage="100" keywordseo="Mumbai-Police">Mumbai police</keyword> has been constantly asking the citizens to stay away from playing the game on busy streets as it could lead to serious accidents. The authorities even went ahead to cancel a large Pokemon Go event planned in Mumbai. 
 
Here is the GIF file uploaded by the official Twitter handle of Mumbai police, warning Mumbaikars: 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Life is not a game. Especially not one to be played on the roads! <a href="https://twitter.com/hashtag/RoadSafety?src=hash">#RoadSafety</a> <a href="https://t.co/qQghrHDNWr">pic.twitter.com/qQghrHDNWr</a>
	— Mumbai Police (@MumbaiPolice) <a href="https://twitter.com/MumbaiPolice/status/757102357381394432">July 24, 2016</a></blockquote>

India's first Pokemon Go casualty, this one involving a Merc

Soon, you will be watching ads of <keyword id="2502101" type="UNKNOWN" weightage="20" keywordseo="Uber-India">Uber India</keyword> on television as the taxi-hailing app Uber is going to launch its first brand campaign in India- Move Forward. 
 
The campaign is inspired by stories from our riders as well as drivers. 
 
In this bid, Uber India has partnered with BBH India to help them conceptualise and execute this campaign. 
 
Uber India ads will include real life anecdotes; life of a driver and how Uber is changing the concept how people travel. 
 
“We are excited to launch Uber India’s first brand campaign ‘Move Forward’ which is inspired by true stories about empowerment. In this brand campaign in partnership with BBH, we have brought to life our product through stories which will resonate with millions of Indians,” said Ashwin Dias, General Manager at Uber. 
 
This campaign will be a multi-platform campaign comprised of digital, print and outdoor. 
 
Arvind Krishnan, Managing Director, BBH India, said, “Weworked hard on uncovering the voice of Uber and the rest of the campaign flowed from there. The team had to don many hats in this process and having an energetic, digitally native team made it a memorable one.”

Uber is going to advertise in India for the first time, share real-life stories

Amid aircraft lessors' concerns in the wake of the Go First crisis, US aircraft maker <keyword id="6357957" type="General" weightage="100" keywordseo="boeing" source="Orion">Boeing</keyword> on Friday said it will work with stakeholders to the best of its abilities to mitigate the issues. <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has huge sales potential, <keyword id="17393260" type="General" weightage="50" keywordseo="ryan-weir" source="Orion">Ryan Weir</keyword>, Vice President of Commercial Sales and Marketing for India, Boeing Commercial Airplanes, said here. Lessors have raised concerns about the National Company Law Tribunal's (<keyword id="6355809" type="General" weightage="50" keywordseo="nclt" source="Orion">NCLT</keyword>) decision to impose a moratorium on Go First assets that also bar the deregistration of planes leased by the airline. To a query on the Go First crisis and lessors' concerns, <keyword id="265251" type="General" weightage="50" keywordseo="weir" source="Orion">Weir</keyword> said it is working with stakeholders and will do the "best of our abilities to mitigate the issues". "We don't know what the impact is going to be," he added. India is one of the fastest-growing aviation markets in the world. Earlier this year, Boeing projected that India will require around 2,210 new planes in the next two decades and out of them, 1,983 units will be single-aisle jets. It also estimated a nearly 7 per cent annual domestic air traffic growth through 2041 for the Indian market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-transmission-adani-total-gas-dropped-by-msci-stocks-fall/articleshow/100177534.cms">Adani Transmission, Adani Total Gas dropped by MSCI: Stocks tumble 5% in morning trade</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-hindenburg-row-mauritian-minister-rejects-shell-company-allegations/articleshow/100164083.cms">Adani-Hindenburg row: Mauritian minister rejects shell company allegations</a> <a href="https://www.businessinsider.in/entertainment/news/ipl-2023-scores-over-1300-crore-video-views-on-jiocinema-in-the-first-five-weeks/articleshow/100155165.cms">IPL 2023 scores over 1,300 crore video views on JioCinema in the first five weeks</a>

India has huge sales potential says Boeing amidst the Go First crisis

Smartphones have transformed the life of many people living in the country in a big way. Using these devices, one could easily access Internet to connect with friends and family, pay bills, watch interesting videos, etc. A similar transformation can be witnessed with the introduction of the much-talked about Smart Cities project.
 

	As the extensive consultation process with all stakeholders has come to an end, a PTI report has revealed that the ambitious project is likely to launch the next month.
 Addressing a seminar on Smart Cities in New Delhi today, <keyword id="2586586" type="UNKNOWN" weightage="20" keywordseo="urban-development-minister-M-Venkaiah-Naidu">Urban Development Minister M Venkaiah Naidu</keyword> said "We are close to launching the much awaited Smart Cities initiative on ground. Prolonged and extensive consultations on this new concept and initiative have finally concluded. We will have all the necessary approvals for this project by the end of this month and action on ground will begin next month onwards." 

	He also added, "We are collectively gearing up to meet the challenges of growing urbanisation with the goal of converting it into an opportunity." 

	In 2014, the BJP government had announced the mission of constructing 100 Smart Cities across India, keeping better technology, superior management and modern governance in mind, the leading news agency said.
 According to Naidu, the <keyword id="513113" type="UNKNOWN" weightage="20" keywordseo="smart-city">Smart City</keyword> will be selected purely on the basis of the criteria charted down by the <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi government</keyword>. Using a three-fold approach, the <keyword id="6356245" type="POSITION" weightage="20" keywordseo="minister">minister</keyword> also explained the difference on how a smart city is different from a city in which smart things happen. He said, "Retrofitting and redevelopment of unsustainable urban areas that we have inherited and identified for development as smart cities, and development of new smart cities." 

	"We want smart cities to be developed to take advantage of and further evolve around their core economic activity, using it as an economic engine, like port cities, tourism cities, healthcare and educational cities," concluded Naidu.

	(Image: GIFT)

Smartphones were never going to be enough for India, it’s time to welcome India’s very first Smart City!

<ul><li><keyword id="3526030" type="General" weightage="20" keywordseo="fino-payments-bank" source="Orion">Fino Payments Bank</keyword>’s IPO was oversubscribed by 2x.</li><li>The payment bank’s IPO was launched on October 29, 2021.</li><li>The company raised ₹1,200 crore through this public issue.</li></ul>Navi Mumbai-based fintech company Fino Payments Bank will make its debut on the stock market at 10:00 a.m., today, November 12, after its initial public offering (IPO) was oversubscribed by 2.03 times. Fino Payments Bank will be the first payments bank to get listed on the stock exchanges, that too while making profits. The company received a<a href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-ipo-allotment-is-tomorrow-november-9/articleshow/87577397.cms"> good response from the investors</a> during its IPO. The portion reserved for retail investors was oversubscribed by 5.92 times on the last day of IPO bidding, on November 2. Fino Payments Bank’s IPO was launched on October 29, 2021. The demand from non-institutional investors, which includes companies as well as high net-worth individuals (HNI), was pretty low and the portion reserved for them was only subscribed 21%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.64 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.21 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.92 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.03 times </td></tr></tbody></table>Source: Stock Exchange Fino Payments Bank raised ₹1,200 crore through this public issue. Of this, ₹300 crore was through fresh issue and ₹900 crore was through offer of sale, which provided partial exits to company’s existing investors. The company will use the net proceeds from the fresh issue to augment its tier-I capital base to meet its future capital requirements. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomatos-investment-turns-curefit-into-indias-36th-unicorn-of-2021/articleshow/87640767.cms" data-type="tilCustomLink">Cult.fit’s parent company Curefit is the 36th unicorn in town</a> <a href="https://www.businessinsider.in/business/corporates/news/zomato-has-closed-all-international-operations-in-uk-us-singapore-and-lebanon/articleshow/87639773.cms" data-type="tilCustomLink">Zomato has officially pulled out of all international markets</a> <a href="https://www.businessinsider.in/business/corporates/news/nykaa-is-now-bigger-than-coal-india-britannia-irctc-and-almost-double-of-hero-motocorp/articleshow/87635312.cms" data-type="tilCustomLink">Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp</a>

India’s first profitable payment bank is going to list today — here’s all you need to know

<ul><li><keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> reported a <keyword id="45439" type="PERSON" weightage="20" keywordseo="Net-Loss">net loss</keyword> of ₹6.5 billion for the quarter ended September 2018 — its first quarterly loss since its initial public offering in late 2015. </li><li>The airline attributed its weak results to the rising costs of <keyword id="4869" type="PERSON" weightage="20" keywordseo="Fuel">fuel</keyword>, the depreciation of the rupee and an inability to increase fares owing to intense competition. </li><li>Indigo is looking to tap into more international routes, especially in Southeast Asia, and reduce fuel costs by operating lighter aircrafts n order to offset cost pressures at home. </li></ul>Indigo, India’s largest budget airline, just <a href="https://www.goindigo.in/content/dam/goindigo/investor-relations/Financial%20Results/2018-19/q2-jul-to-sep-2018/Unaudited-Financial-Results.pdf">reported</a> a net loss of ₹6.5 billion for the quarter ended September 2018 — its first quarterly loss since its <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/indigos-rs-3018-crore-ipo-three-times-oversubscribed/articleshow/49580179.cms">initial public offering</a> in late 2015. This came despite a 17% rise in revenue from operations to ₹61.9 billion as the airline added 35 new routes and recorded an increase in passenger traffic. Indigo laid the blame for its loss squarely on external issues ; the rising costs of fuel, the depreciation of the rupee and an inability to increase fares owing to intense competition. In fact, the airline said that high fuel costs were responsible for over half of the fall in its profitability. The fact that Indigo — which boasts <a href="https://www.goindigo.in/content/dam/goindigo/investor-relations/Financial%20Results/2018-19/q2-jul-to-sep-2018/Unaudited-Financial-Results.pdf">a 42% market share </a>and is routinely touted for its efficiency and low costs — is struggling is indicative of a sector-wide malaise, and does not bode well for the results of other airlines. India’s carriers have not had an easy year. Fuel costs, which are denominated in dollars and comprise nearly 40% of the operating costs of most airlines, have been accelerating amid a global supply crunch and the rupee’s freefall. Meanwhile, airlines have been unable to increase fares by a corresponding amount for fear of driving customers away. In a bid to keep costs in control, most airlines have stalled plans to buy new aircrafts and resorted to leasing them instead. The sector’s major casualties are Jet Airways, which is selling a stake in its loyalty programme to stay afloat, and Air India, which is pinning its hopes on a government bailout. The government has taken notice of the sector’s problems. In September, it was said to be planning <a href="https://www.businessinsider.in/the-indian-government-is-planning-a-rescue-package-for-the-aviation-sector-as-the-losses-pile-up/articleshow/65681289.cms">a relief package</a> for the <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">aviation</keyword> industry. While this was meant to include a reduction in aviation fuel prices, it actually hiked <a href="https://www.businessinsider.in/india-continues-its-defense-of-the-rupee-by-hiking-import-duties-on-19-products/articleshow/65976347.cms">import duties on aviation turbine fuel</a>, in addition to other items, a month ago in order to defend the rupee. In order to hold onto its market share at home, Indigo has no option but to play the fare discounting game. In fact, it was forced to scrap <a href="https://www.business-standard.com/article/companies/price-war-indigo-blames-rival-carriers-for-pricing-pressure-on-airlines-118102401221_1.html"> a fuel surcharge</a> a few months ago on its ticket prices because none of the other Indian airlines followed suit. However, unlike its domestic rivals, Indigo has other avenues for offsetting its cost pressures over the next few quarters. It is looking to tap into more international routes, especially in Southeast Asia, and reduce fuel costs by operating lighter aircrafts.

India’s largest passenger airline just posted its first ever quarterly loss since going public — and its results reflect the larger woes of the country’s aviation sector

For the pilots of <keyword id="120816" type="General" weightage="80" keywordseo="go-airlines" source="Orion">Go Airlines</keyword> (India) Ltd, it seems their employer is a "no go airline" and the race is on as to who will board the <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword>. Incidentally, Go Airlines' brand is Go First and for the pilots it seems to "get away first". "The pilots from Go Airlines are experienced and they are ready to fly. It will be a good catch for Air India," a senior pilot told IANS preferring anonymity. According to him, the hiring will be for Air India and not a common recruitment for Air India, Vistara and AirAsia. "Ultimately Vistara and AirAsia may be merged with Air India. So there is no point going there and coming back to Air India," the official added. According to reports, Air India has extended the walk-in interview at Gurugram for Airbus A320 pilots by a day owing to a large number of applicants from Go Airlines. The <keyword id="7629" type="General" weightage="50" keywordseo="wadia" source="Orion">Wadia</keyword> group's Go Airlines has filed for a voluntary insolvency petition with the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="50" keywordseo="nclt" source="Orion">NCLT</keyword>) and grounded its flights for some time. It is said <keyword id="124937" type="General" weightage="50" keywordseo="indigo-airlines" source="Orion">Indigo Airlines</keyword> too is getting applications from Go Airlines pilots. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/britannias-q4-net-profit-rises-47-yoy-to-559-crore-on-softer-input-costs/articleshow/100017366.cms">Britannia’s Q4 net profit rises 47% YoY to ₹559 crore on softer input costs</a> <a href="https://www.businessinsider.in/business/news/indigo-airlines-stock-to-surge-further-as-go-firsts-troubles-mount/articleshow/100009541.cms">The skies are clearer for IndiGo stock to surge further as Go First’s troubles mount</a> <a href="https://www.businessinsider.in/finance/banks/news/raghuram-rajan-speaks-out-on-zombie-companies-a-simmering-real-estate-time-bomb-more/slidelist/100014762.cms">Raghuram Rajan speaks out on zombie companies, a simmering real estate time bomb &amp; more</a>

Air India to get ready to go pilots from Go Airlines

<keyword id="270252" type="COMPANY" weightage="100" keywordseo="GoDaddy">GoDaddy</keyword>, the largest domain registrar in the world has announced it'll support Hindi, Marathi and Tamil to get more small businesses across India onboard. 
 
GoDaddy is the first internet domain registrar and web hosting company in India to go local. The company has been offering products and customer service in regional languages. Target Group Index (TGI) research shows over 61% of India's internet growth is coming from its regional areas. 
 
"Over 95% business across India happens in SMEs. If these small businesses are not online, India isn't online", Rajiv Sodhi, VP and Managing Director, GoDaddy India and Australia said. 
 
India is the world's second-largest internet market and is also home to the second-largest SMB base globally, with over 51 million business that form a solid base for its economy. According to TGI data, 73% of those SMBs are in tier II and III cities. 
 
GoDaddy currently has over 62 million domains under management with 14 million paying customer. The company is currently in 53 markets, 43 currencies and 26 languages. 
 
<a href="http://meredithaz.images.worldnow.com/images/7987815_G.jpg">Image source</a>

You Searched For "go first india" and got 9 results

National Company Law Appellate Tribunal to hear Go First lessors' plea today

ANI

India's first Pokemon Go casualty, this one involving a Merc

BI India Bureau

Uber is going to advertise in India for the first time, share real-life stories

BI India Bureau

India has huge sales potential says Boeing amidst the Go First crisis

PTI

Smartphones were never going to be enough for India, it’s time to welcome India’s very first Smart City!

BI India Bureau

India’s first profitable payment bank is going to list today — here’s all you need to know

Kritti Bhalla

India’s largest passenger airline just posted its first ever quarterly loss since going public — and its results reflect the larger woes of the country’s aviation sector

Dilsher Dhillon

Air India to get ready to go pilots from Go Airlines

IANS

GoDaddy now supports Hindi, Marathi and Tamil to get more SMEs onboard

Saikat Pyne

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