Latest news with #DRT
CTV News
2 days ago
- Business
- CTV News
Durham Region Transit strike averted as tentative deal reached
A Durham Region Transit bus is seen in this undated photo (Unifor). Bus service in Durham Region will run as scheduled this weekend as the union representing area transit workers has struck a tentative deal with their employer on Friday, swerving away from potential strike action. Unifor Local 222, representing Durham Region Transit (DRT) workers, has said it has been looking for wages that fall in line with other transit agencies in Mississauga and Brampton, adding they earn up to $5 per hour more. If an agreement wasn't reached, the union planned to walk off the job—halting bus service—as of 12:01 a.m. on June 7. DRT said there would be no interruption to transit services as a result of the deal. In a release issued on Friday, the union said the details of the agreement won't be shared until after a ratification meeting in the coming days. The union represents around 616 employees who work as transit operators, maintenance workers as well as in dispatch and specialized services at Durham Regional Transit. According to the union, DRT serves more than 14 million riders every year. With files from CP24's Chris Fox
CTV News
2 days ago
- Business
- CTV News
Durham Region Transit strike averted as tentative deal reached
Bus service in Durham Region will run as scheduled this weekend as the union representing area transit workers has struck a tentative deal with their employer on Friday, swerving away from potential strike action. Unifor Local 222, representing Durham Region Transit (DRT) workers, has said it has been looking for wages that fall in line with other transit agencies in Mississauga and Brampton, adding they earn up to $5 per hour more. If an agreement wasn't reached, the union planned to walk off the job—halting bus service—as of 12:01 a.m. on June 7. In a release issued on Friday, the union said the details of the agreement won't be shared until after a ratification meeting in the coming days. The union represents around 616 employees who work as transit operators, maintenance workers as well as in dispatch and specialized services at Durham Regional Transit. According to the union, DRT serves more than 14 million riders every year. With files from CP24's Chris Fox
India.com
2 days ago
- Business
- India.com
This Indian billionaire publicly supports Vijay Mallya, calls former RCB and Kingfisher owner a ‘punching bag', his name is..
Vijay Mallya, who is facing fraud and money laundering charges had interacted with podcaster Raj Shamani recently. He spoke on all the topics he talked about for many years. The discussion about his podcast started surfacing on social media platforms this morning. While replying to Harsh Goenka's post Vijay Mallya claimed that the banks had recovered Rs 14,100 crores from him. In his post, Mallya thanked Goenka for speaking in his favour and added that he has been facing 'blatant discrimination'. Harsh Goenka's Post On Vijay Mallya Taking a part in ongoing discussion, Chairman of RPG Enterprises, Harsh Goenka stated, '' Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a political punching bag? Justice must be fair, not selective.'' Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination ? — Vijay Mallya (@TheVijayMallya) June 5, 2025 Vijay Mallya's Reaction On Post The former owner of Kingfisher Airlines and Royal Challengers Bengaluru (RCB) wrote, '' Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination ?'' On this, Goenka responded with a folded hands emoticon. Netizens Reaction On Discussion User name Gargi Rawat said, '' This is true sir. But as you stated, he's a political punching bag.'' Another user named as Mahesh Poddar said, ''We often forget he created world class airline KINGFISHER in no time. Many airlines failed like this too. Appreciate your public stance.'' Disagreeing with them another user named Balkrishnan B R said, ''Just to remind you, Vijay Mallya is also walking free and still living the high life in the UK. UK is a safe haven for all our criminals.''
News18
3 days ago
- Business
- News18
'A Punching Bag?': Harsh Goenka's 'Justice' Post Gets Vijay Mallya's Thumbs-Up
Last Updated: Goenka questioned why Mallya was still a "punching bag" despite his loan recovery and said justice must be fair. Mallya is accused of defaulting on loans worth Rs 9,000 crore. Business tycoon Harsh Goenka's recent social media post, where he questioned why fugitive businessman Vijay Mallya continues to be a 'political punching bag" despite the recovery of his loans, has reignited the debate surrounding one of India's most high-profile financial scandals. The RPG Enterprises Chairman acknowledged that Mallya had 'lived the high life" and defaulted on his loans, but stressed that his dues worth over Rs 9,000 crore had been settled. He emphasised that justice must be fair and not selective. 'Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a political punching bag? Justice must be fair, not selective," Goenka said on X. Vijay Mallya lived the high life, yes. Defaulted, yes. Unlike most others, his ₹9,000+ crore dues are now reportedly settled. Meanwhile, bigger defaulters walk free with much fatter haircuts from banks. If dues remain, the banks should clearly say so. If not, why is he still a…— Harsh Goenka (@hvgoenka) June 5, 2025 Mallya swiftly responded to Goenka's post, saying, 'Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination?" Thank you Harsh. The Union Finance Ministry has confirmed in writing that Banks have recovered Rs 14,100 crores from me against a DRT judgement debt of Rs 6,203 crores. Why the blatant discrimination ?— Vijay Mallya (@TheVijayMallya) June 5, 2025 'Vijay Mallya didn't repay out of goodwill. His assets were seized and auctioned after years of dodging Indian courts and living lavishly in the UK," another user said. Others agreed with Goenka's statement, saying Mallya had been unfairly targeted. Mallya is an accused in a bank loan default case of over Rs 9,000 crore from an SBI-led consortium, involving his defunct Kingfisher Airlines. He was accused of fraud and money laundering and fled the country in 2016. He has since lived in the UK while fighting his extradition to India. Last year, the Enforcement Directorate said it had recovered Rs 22,280 crores from various banking scams, from the high-profile names like Mehul Choksi, Nirav Modi and Vijay Mallya and some fraudulent companies. In February, Mallya told the Karnataka High Court that the Rs 6,200 crore debt he owes to banks has been recovered 'multiple times over". 'According to an admitted statement, as of today, the recovery officer confirms that Rs 10,200 crore has been recovered. Additionally, the official liquidator states that the banks have regained their dues, and even the Finance Minister informed Parliament that Rs 14,000 crore has been recovered," he said at that time. The 69-year-old businessman was declared bankrupt in July 2021. He remains on bail in the UK while a 'confidential" legal matter believed to be related to an asylum application is resolved in connection with the unrelated extradition proceedings. A consortium of banks, led by SBI, won their court appeal in London to uphold a bankruptcy order against him in April.
Time of India
24-05-2025
- Business
- Time of India
Finance Ministry urges banks, DRTs to speed up debt recovery
Tired of too many ads? Remove Ads The finance ministry has called on banks, debt recovery tribunals and other stakeholders to work together to reduce the backlog of pending cases and create a more effective recovery ecosystem, to help free up capital stuck in capital could be redeployed "for productive use in the economy," the ministry said in a statement on appeal was made during a colloquium held earlier in the day with chairpersons of Debt Recovery Appellate Tribunals (DRATs), presiding officers of debt recovery tribunals (DRTs), and representatives of various public and private sector banks as well as the Indian Banks' the key issues deliberated were prioritisation of high-value cases, use of alternate dispute resolution mechanisms such as Lok Adalats, and further reforms to reduce turnaround time for various processes in DRT proceedings, the statement was also pointed out that robust monitoring and oversight mechanisms by banks are key for increasing recovery through ministry also highlighted key initiatives taken by the Department of Financial Services such as the adoption of revised DRT regulations, mandatory e-filing, hearing through video conferencing, and hybrid hearings for reducing turnaround time of the matters adjudicated by the tribunals.
