Jet Airways chairman Naresh Goyal steps down, banks take control: 10 updates
(World News Science)

Jet Airways Chairman Naresh Goyal will exit from the board, following which his stakes would be reduced in the cash-strapped airline. According to Jet Airways, the banks, led by State Bank of India (SBI), would convert their debt into equity and take a controlling stake in the airline for a token sum of Rs 1. The banks would also give the airline a fresh loan Rs 1,500 crore under...