With increasing number of billionaires and fast-growing economies in Southeast Asia, the business jets category has begun to see an increase in interest for the first time since the 2008 global meltdown.
The joint venture between the Penna group and UAE’s RAKIA has challenged the petition, arguing that it had already entered into a onetime settlement with its lenders’ forum.
“We have shown patience for four years. I tried to convince the Centre… The Centre is not in a mood to listen,” TDP chief Chandrababu Naidu said.
Naidu, whose TDP is part of the BJP-led NDA, said the Centre should accord Andhra Pradesh special category status and attendant benefits as it is doing in the case of some other states.
The joint venture is now actively marketing natural gas produced from eastern offshore KG-D6 block on behalf of both RIL and BP, officials said.
Naidu said, "I can proudly say that my success rate is more than 50%, which is considered the highest for any state in India through partnership summits."
Anrak Aluminium is a joint venture between India’s Penna group and UAE’s Ras Al Khaimah Investment Authority.
Malaysian parent company Maxis had earlier proposed a cash infusion to support the debt-laden company but has pulled the plug, said one of the people.
While highlighting that the people of Andhra were highly upset and angry over the raw deal dished out even in the latest union Budget, Naidu said.
One of the other things that has been happening in the sector is the emergence of new cloud players like Zoom and BlueJeans, who provide video services, she said.
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