In what could give a big relief to new mobile players, the Department of Telecommunications (DoT) is unlikely to cancel 53 licences - as recommended by the Telecom Regulatory Authority of India (Trai) - for non-fulfilment of rollout obligations.
DoT has set up a committee to frame the proposed Act, which will have seven members with retired judge Justice Shivraj Patil as its chairman.
Ashok Chand Burman, the 82-year-old patriarch of the family and chairman of fast moving consumer goods (FMCG) major Dabur Ltd, died on Saturday while on vacation in London, He was instrumental in fundamentally transforming a mid-rung ayurveda company firm into a FMCG major.
The long battle between ITC and its one-time trading partner, the Chitalias, has shifted to India. ITC has filed a suit in the Indian courts to recover assets it says the two brothers have in the country.
This is part of the government's plan to raise Rs 40,000 crore (Rs 400 billion) from disinvestment in the current financial year.
The broad idea was endorsed by the DoT's internal panel in its report on the Telecom Regulatory Authority of India's recommendations last year on spectrum management and other licensing issues.
The company is looking to triple its FMCG turnover from Rs 5,000 crore (Rs 50 billion) to Rs 15,000 crore (Rs 150 billion) in the next five years.
The loans are backed by a government guarantee.
The government has till now injected Rs 2,000-crore (Rs 20-billion) fresh equity into the airline.
The average revenue per user (ARPU) of the country's four new GSM operators who got licences in 2008 - Uninor, S-Tel, Videocon and Etisalat DB - was between Rs 8.50 and Rs 39 in the January-March quarter.
The move will require a one-time payment of Rs 4,000-5,000 crore (Rs 40-50 billion), for which DoT would give financial support, a senior official from the latter told Business Standard.
Six metros in which FDI in multi-brand retailing will be permitted are Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad.
The project, estimated to cost Rs 2,500-3,000 crore, is to be jointly implemented with the Ceylon Electricity Board, the largest power company of Sri Lanka.
The department is planning a complete overhaul of the archaic Indian Telegraph Act.
The telecom PSU plans to get back in black in two years; BSNL too has started discussions to lease out its towers.
The idea is to reduce capital investments and improve profitability.
'It can be used to build three-wheelers, vans, too'
Group to enter education, invest `100 cr to begin with.
The scheme will be offered to 15,000 employees, or one-third of the workforce, in the current financial year.
The turnaround has been possible due to availability of domestic gas on priority.
