Day: August 8, 2020

Crashed Air India Plane’s Black Boxes Found; Death Toll 18

(Bloomberg) — The black boxes of an Air India Express jet that crashed on Friday, killing at least 18 people, has been recovered after authorities completed the rescue operation.

The digital flight data recorder and cockpit voice recorder can help investigators piece together what caused the Boeing Co. 737 to skid off the runway and break apart while attempting to land Friday. Operating as Flight 1344 for Air India Express from Dubai, the plane carrying 190 passengers and crew touched down with a tail wind, according to archived local weather data, which would be counter to the usual practice of

PM Modi to launch financing facility of Rs 1 lakh cr under Agri Infra Fund tomorrow; check details

The funds will help to create farming assets such as cold storage, collection centres, processing units, etc.

In an effort to boost the creation of post-harvest management infrastructure and community farming assets, Prime Minister Narendra Modi will launch the financing facility of Rs 1 lakh crore under the Agriculture Infrastructure Fund via video-conferencing tomorrow. The funds will help to create farming assets such as cold storage, collection centres, processing units, etc, said a statement by the Prime Minister’s Office. These assets will enable farmers to get greater value for their produce, as they will be able to store and sell

IBBI gives relief to creditors during liquidation process; allows insolvency professional from same state

Insolvency Professionals must be from the State or Union Territory, which has the highest number of creditors in the class.

In a major relief to the creditors, the Insolvency and Bankruptcy Board of India made amendments in the Insolvency Resolution Process, allowing companies the flexibility to replace its liquidator during a voluntary liquidation process. According to the latest change, the existing liquidator can be replaced by appointing another insolvency professional as liquidator by a resolution of members, partners, or contributors. The Insolvency and Bankruptcy Code, 2016, envisages the appointment of an authorised representative (AR) by the Adjudicating Authority to represent