Adani Group has issued a clarification on reports of appointing Grant Thornton for audits after the Hindenburg crisis. The flagship company of Adani Group termed it as a market rumour.

Adani Group denies reports of hiring Grant Thornton for audit

Lenders to&nbsp;<a href="https://www.wionews.com/india-news/jet-airways-row-delhi-high-court-to-hear-tomorrow-naresh-goyals-plea-seeking-quashing-of-look-out-circular-234105">Jet&nbsp;Airways</a> agreed on Friday to provide some interim financing to the bankrupt airline to help it cover legal and other costs, as resolution experts look to find a potential buyer.

In a regulatory filing, bankruptcy resolution firm Grant Thornton said&nbsp;Jet's lenders had also approved the eligibility criteria for potential buyers.

The filing did not say how much interim funding had been approved, but a source familiar with the matter told Reuters the lenders had agreed to provide $10 million.

The committee of creditors (CoC), via an electronic voting process, also agreed to appoint SBI Caps to help with the whole resolution process.

SBI Caps, the investment banking arm of State Bank of India (SBI), previously led an unsuccessful sale process for the airline before it was dragged to the bankruptcy court.

The source said Grant Thornton planned to open bidding for the airline on Saturday. The only criterion for bidders will be having a net worth of 10 billion Indian rupees ($145 million), added the source.

This is similar to the parameter used when lenders initially tried to sell the airline. Bidding is likely to be open for 15 days and maybe extended if there are no suitors, said the source.

Last month,&nbsp;Jet's creditors, led by SBI, took the airline to bankruptcy court after failing to agree on a revival plan.

Financial creditors, who have the first right to proceeds recovered from a bankruptcy resolution, have submitted claims worth 102 billion rupees out of which 85 billion have been admitted. Apart from this, about 2,400 operational creditors have made claims worth some 123.72 billion rupees, according to reports.

Lenders to Jet Airways agreed on Friday to provide some interim financing to the bankrupt airline to help it cover legal and other costs, as resolution experts look to find a potential buyer.

Lenders to Jet Airways agreed on Friday to provide some interim financing to the bankrupt airline to help it cover legal and other costs, as resolution experts look to find a potential buyer. In a regulatory filing, bankruptcy resolution firm Grant Thornton said Jet's lenders had also approved the eligibility criteria for potential buyers. The filing did not say how much interim funding had been approved, but a source familiar with the matter told Reuters the lenders had agreed to provide $10 million. The committee of creditors (CoC), via an electronic voting process, also agreed to appoint SBI Caps to help with the whole resolution process. SBI Caps, the investment banking arm of State Bank of India (SBI), previously led an unsuccessful sale process for the airline before it was dragged to the bankruptcy court. The source said Grant Thornton planned to open bidding for the airline on Saturday. The only criterion for bidders will be having a net worth of 10 billion Indian rupees ($145 million), added the source. This is similar to the parameter used when lenders initially tried to sell the airline. Bidding is likely to be open for 15 days and maybe extended if there are no suitors, said the source. Last month, Jet's creditors, led by SBI, took the airline to bankruptcy court after failing to agree on a revival plan. Financial creditors, who have the first right to proceeds recovered from a bankruptcy resolution, have submitted claims worth 102 billion rupees out of which 85 billion have been admitted. Apart from this, about 2,400 operational creditors have made claims worth some 123.72 billion rupees, according to reports.

Jet Airways' lenders approve interim finance plan for the carrier

With business sentiment at the "weakest" in four years, India slipped to the 6th position globally in the business optimism index for the first quarter of this year, says a survey.

Business optimism is however at an "all-time high" globally with the index at net 61 per cent, the highest figure recorded in 15 years of research, as per Grant Thornton's quarterly global business survey released today.

Noting that business sentiment in India has been the weakest since 2014 in the first quarter, the advisory firm said the confidence has been shaken since the third quarter of 2017 with weakening currency and a surge in oil prices.

Also read: <a href="http://www.wionews.com/business-economy/ease-of-doing-business-indias-rankings-zooms-to-100-in-world-bank-report-up-30-places-23243">India's ranking&nbsp;zooms to 100 in Ease of Doing&nbsp;Business index, up 30 places</a>

"While entering the last year of the current regime, the business optimism in India has deteriorated with the country ranking 6th globally on the optimism index in the first quarter of 2018... India has been topping the chart since the new government came into power in 2014," Grant Thornton's International Business Report said.

With a score of 89, India is at the sixth place in the index. The top five nations are Austria, Finland, Indonesia, the Netherlands and the US.

The conclusions are based on a quarterly global business survey of 2,500 businesses in 37 economies.

With regard to India, Grant Thornton said the underlying pessimism is reflected in other parameters as well including revenue, selling prices, profitability, employment and exports expectations.

Indian businesses have been citing regulations and red tape, availability of skilled workforce, lack of ICT infrastructure and shortage of finance as the biggest growth constraints.

Even after India's significant jump in World Bank's Ease of Doing Business ranking, the country still continues to rank 1st or 2nd in quoting these reasons as the key hurdles for growth, it noted.

Prime Minister Narendra Modi-led NDA government came to power in May 2014.

Grant Thornton India LLP CEO Vishesh C Chandiok said the reversal in sentiment amongst mid- sized business in India in the last three quarters is startling and hoped that policy makers would sit up and take note.

"With oil climbing, and India firmly in an election year, we ought to brace for a volatile economic environment in the days ahead. Export oriented businesses should see better days, finally," he added. PTI

Business optimism however is at an 'all-time high' globally. The index is at a net 61 per cent, the highest figure recorded in 15 years of research.

With business sentiment at the "weakest" in four years, India slipped to the 6th position globally in the business optimism index for the first quarter of this year, says a survey. Business optimism is however at an "all-time high" globally with the index at net 61 per cent, the highest figure recorded in 15 years of research, as per Grant Thornton's quarterly global business survey released today. Noting that business sentiment in India has been the weakest since 2014 in the first quarter, the advisory firm said the confidence has been shaken since the third quarter of 2017 with weakening currency and a surge in oil prices. Also read: India's ranking zooms to 100 in Ease of Doing Business index, up 30 places "While entering the last year of the current regime, the business optimism in India has deteriorated with the country ranking 6th globally on the optimism index in the first quarter of 2018... India has been topping the chart since the new government came into power in 2014," Grant Thornton's International Business Report said. With a score of 89, India is at the sixth place in the index. The top five nations are Austria, Finland, Indonesia, the Netherlands and the US. The conclusions are based on a quarterly global business survey of 2,500 businesses in 37 economies. With regard to India, Grant Thornton said the underlying pessimism is reflected in other parameters as well including revenue, selling prices, profitability, employment and exports expectations. Indian businesses have been citing regulations and red tape, availability of skilled workforce, lack of ICT infrastructure and shortage of finance as the biggest growth constraints. Even after India's significant jump in World Bank's Ease of Doing Business ranking, the country still continues to rank 1st or 2nd in quoting these reasons as the key hurdles for growth, it noted. Prime Minister Narendra Modi-led NDA government came to power in May 2014. Grant Thornton India LLP CEO Vishesh C Chandiok said the reversal in sentiment amongst mid- sized business in India in the last three quarters is startling and hoped that policy makers would sit up and take note. "With oil climbing, and India firmly in an election year, we ought to brace for a volatile economic environment in the days ahead. Export oriented businesses should see better days, finally," he added. PTI

India slips to 6th spot on business optimism index, sentiment weakest since 2014

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Adani Group denies reports of hiring Grant Thornton for audit

Jet Airways' lenders approve interim finance plan for the carrier

India slips to 6th spot on business optimism index, sentiment weakest since 2014