The Enforcement Directorate (ED) is proposing a penalty on German sportswear giant Adidas' subsidiary Reebok India for alleged violations of the Foreign Exchange Management Act (Fema).
In a major relaxation of foreign investment rules in the pharma sector, a special group set up under the finance ministry has suggested it could consider permitting up to 49 per cent FDI (foreign direct investment) in the automatic route for brownfield investments in case the company's control remained in Indian hands.
He says he's now confident of arresting its decline through various measures, including renewed focus on landline and mobile services, sorting out procurement problems and outsourcing unutilised space and tower management.
Migration option scrapped for incumbent telecom operators; EGoM meets under Pawar today.
International telcos such as Russia's Sistema and Norway's Telenor and foreign investment funds such as KAIF Investments Mauritius and Capital Global Ltd (investors in Loop Telecom) have sent legal notices to the Indian government under the respective Bilateral Investment Promotion & Protection Agreement or Comprehensive Economic Cooperation Agreement.
The telecom industry, with a cumulative debt of around Rs 2,75,000 crore (Rs 2,750 billion), has been mired in various controversies, besides facing intense competition, low tariffs and falling margins.
In a move that could hold a flicker of hope for telecom operators, who have been opposing the high base price for the auction of 2G spectrum, the empowered group of ministers (EGoM) has quietly modified the key objective of the auction. The text of the objective has been tweaked from "revenue maximisation" to "maximising revenue but within set parameters" determined by the government.
Corporate affairs ministry note for ministerial group says can't keep banking, telecom out of CCI purview as RBI, Trai enable but not regulate competition
The Department of Telecommunications (DoT) expects to finalise the norms for mergers and acquisitions and spectrum sharing by the end of June. It also plans to approve the National Telecom Policy (NTP), 2012, by the end of July.
In a new twist to the battle between German footwear major Adidas and its key former employees, a trial court in Gurgaon denied anticipatory bail to Subhinder Singh Prem, former managing director, and Vishnu Bhagat, former chief operating officer, of the company in India.
Says action taken following Supreme Court order, not because of government decision
Emirates Telecommunications Corporation (Etisalat) has made a representation through the UAE government to request the Enforcement Directorate to withdraw a showcause notice over alleged violations of the Foreign Exchange Management Act (FEMA), insofar as it relates to the company and its directors on the board of its Indian joint venture Etisalat-DB Ltd. The UAE (United Arab Emirates) government owns 60 per cent of the Etisalat group.
The commission has disagreed with another key proposal -- that of allowing operators a deferred payment scheme after the auction.
The paying capacity of telcos will not be the same over the next two decades. J S Sarma, chairman of the Telecom Regulatory Authority of India, says after the regulator recommended a high reserve price for the auction of 2G spectrum.
The paying capacity of telcos will not be the same over the next two decades. J S Sarma, chairman of the Telecom Regulatory Authority of India, says after the regulator recommended a high reserve price for the auction of 2G spectrum.
The move is being considered after growing clamour from competing 4G operators for a level playing field in relation to Qualcomm.
According to data from the Central Electricity Authority, the stock at 30 plants, with a total capacity of about 26,320 Mw, is at a critical level (would last less than seven days).
TV Today stock rises 15.23% on sale buzz
Anil Ambani-promoted multiplex chain may sell stake to the Mexico-headquartered global giant
An apex committee under DoT Secretary R Chandraskehar has been set up to oversee the required policy decisions and institutional framework for an alliance between the two public sector undertakings which have been incurring losses.
