Indian low-cost carrier Spicejet on  May 11  said that it has no plans ‘whatsoever’ to file for insolvency.

“There is absolutely no question of filing for insolvency. Any rumour regarding the same is completely baseless,” said Ajay Singh, Chairman and Managing Director of SpiceJet.

The airline said that they want to scotch any speculation that may have arisen due to the filing by another airline. Spicejet is firmly focused on its business and remains in active talks with investors to raise funds, it added.

The Gurugram-based airline’s statement comes a day after the Delhi bench of the National Company Law Tribunal (NCLT) admitted Go First’s plea for voluntary insolvency and for initiation of Corporate Insolvency Resolution Process (CIRP) proceedings.

While Spicejet is not filing for insolvency, a few of its aircraft lessors are dragging the airline to bankruptcy court.

Ireland-based aircraft lessor Aircastle Ltd has moved the Principal Bench of NCLT to launch a bankruptcy process against the low-cost carrier. A two-member Principal bench headed by President Ramalingam Sudhakar has directed to list the matter on May 17 for the next hearing.

Spicejet had last week announced plans to revive 25 grounded aircraft that it believes will help them capitalise and make the most of the upcoming peak travel season.

The president of the Russian Olympic Committee, Stanislav Pozdnyakov indicated  on May 11 that the country could boycott qualifying competitions in fencing for next year's Paris Games after some athletes, including his own daughter, Pozdniakova were barred from competing.

The International Olympic Committee recommends letting competitors from Russia and Belarus compete as neutral athletes without national symbols after the invasion of Ukraine, but still excluding those employed by the military or security services or those who have publicly backed the war.

In a desperate bid to host some matches of the Asia Cup in Pakistan, the PCB is now trying to convince the Asian Cricket Council to allocate just four first round games in Pakistan or else they would have no option but to pull out of the continental body.

PCB chairman Najam Sethi's 'hybrid model' of Pakistan hosting four games has been rejected by other member nations.

The PCB, in turn, has rejected the idea of hosting Asia Cup games in Sri Lanka.

Sethi had also conveyed to the ACC in Dubai that if even this plan B of the PCB was rejected by ACC members, then Pakistan would not play in the Asia Cup and also withdraw from the Asian Cricket Council.

Sethihas proposed the Pakistan versus Nepal, Afghanistan versus Bangladesh, Afghanistan vs Sri Lanka and Sri Lanka v Bangladesh matches in Pakistan.

Q1. The gilt-edged market means

1. Bullion market
2. Market of government securities
3. Market of guns
4. Market of pure metals
5. None of These

Q2. In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

1. Chemicals other than fertilizers
2. Services sector
3. Food processing
4. Telecommunication
5. None of These

Q3. Devaluation of a currency means

1. Reduction in the value of a currency vis-a-vis major internationally traded currencies
2. Permitting the currency to seek its worth in the international market
3. Fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
4. Fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
5. None of These

Q4. The first wholly Indian Bank was set up in

1. 1794
2. 1894
3. 1896
4. 1902
5. None of These

Q5. The currency convertibility concept in its original form originated in

1. Wells Agreement
2. Bretton Woods Agreement
3. Taylors Agreement
4. Lisbon Agreement
5. None of the above

Answers

1------------------2   Market of government securities

2------------------4   Telecommunication

3------------------1

4------------------2   1894

5------------------2   Bretton Woods Agreement

Q1. Name the first state to introduce unique colour-coded stamp papers for investors ?

1. Himachal Pradesh
2. Uttar Pradesh
3. Bihar
4. Punjab
5. None of These

Q2. Name the eminent singer and the youngest daughter-in-law of poet Kazi Nazrul Islam who died recently ?

1. Zahida Khatun
2. Nargis Asar Khanum
3. Kalyani Kazi
4. Pramila Devi
5. None of These

Q3. ame the former Union Minister  and former  president of  the Janata Dal-United ( JDU)  who has joined the Bharatiya Janata Party ( BJP) on May 12 ?

1. Nitish Kumar
2. Sharad Yadav
3. Lalan Singh
4. RCP Singh
5. None of These

Q4. Name the state in which Chakma Autonomous District Council (CADC) exist ?

1. Tripura
2. Mizoram
3. Manipur
4. Nagaland
5. None of These

Q5. The authorities in Bangladesh and Myanmar prepared to evacuate hundreds of thousands of people May 12 , warning them to stay away from coastal areas as a severe cyclonic storm called

1. Mocha
2. Nargis
3. Nani
4. Megha
5. None of These

Answers

1------------------4    Punjab

2------------------3  Kalyani Kazi

3------------------4   RCP Singh

4------------------2    Mizoram

5------------------1   Mocha

Punjab on May 12 became the first state in the country to launch unique colour-coded stamp papers to facilitate industrial growth in the state.

Chief Minister Bhagwant Mann introduce green-coloured stamp papers to facilitate the entrepreneurs setting up their units in the state.

He said that under the system, any industrialist who is keen on setting up his industrial unit in the state can get this unique colour-coded stamp paper from Invest Punjab Portal by just paying various fees required for getting clearances in the form of CLU, forest, Pollution, Fire and other to set up his unit while purchasing this single stamp paper only. The industrialist will get all the necessary clearances from all the departments within 15 days.

He further said that green colour stamp paper will symbolize that the industrialist has already paid the entire fee for the clearances required for the industry. This first-of-its-kind initiative by the state government will give a major fillip to the industry in Punjab.

The Chief Minister said that this idea had come from the meetings with the industrial tycoons from within the state and across the country during the run-up for Invest Punjab held earlier this year. Mann envisioned that this will facilitate the industrialists in a big way by saving their time, money and energy.

The Delhi Police on May 12  informed a special court that a Special Investigation Team (SIT) has been constituted to probe the allegations of sexual harassment levelled by women wrestlers against WFI president Brij Bhushan Singh.

The submission was made before Additional Chief Metropolitan Magistrate Harjeet Singh Jaspal in response to the court's earlier order directing the police to file a status report.

The report has been filed by the Delhi Police in a sealed cover.

After the submission, the court posted the matter for further hearing on May 27.

The judge had issued a notice to the Delhi Police on a plea moved by the wrestlers seeking monitoring of the investigation and recording of the statement of the alleged victims before the court.

The wrestlers have been demanding the arrest of Singh, accusing him of sexually exploiting several women grapplers, including a minor.

The Delhi Police has filed two FIRs, including one under section 10 of the POCSO Act against the BJP MP, who has denied all the charges.

Former Union Minister Ramchandra Prasad ( RCP) Singh, who quit the Janata Dal-United ( JDU) joined the Bhartiya Janta Party ( BJP) on May 12 . He quit JDU after the party sought an explanation for the allegations of corruption levelled against him.

RCP Singh joined the BJP in the presence of Union Education Minister Dharmendra Pradhan, and National General Secretary Arun Singh at the headquarters in New Delhi.

Singh resigned from JDU after an explanation was sought by a party from him on corruption charges on all the immovable property registered in the names of his family members from 2013 to 2022. Singh is a former officer of the 1984-batch Indian Administrative Service (IAS) of UP cadre, who served as principal secretary of Bihar CM Nitish Kumar also for 7 years prior to becoming the national president of JD-U.