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.
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
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 move is being considered after growing clamour from competing 4G operators for a level playing field in relation to Qualcomm.
TV Today stock rises 15.23% on sale buzz
Anil Ambani-promoted multiplex chain may sell stake to the Mexico-headquartered global giant
Malaysia's leading telecom operator, Axiata, has backed out of its negotiations to pick up a substantial stake in broadband wireless access operator Tikona Digital.
The beauty and wellness formats will be started in Reliance Hypermarkets in May.
All shares owned by Max group promoters shifted to two trusts
Cash-strapped Lilliput, the country's largest kidswear brand, may soon get a luxury makeover.
In a move that could pave the way for open auction of the 2G spectrum released from 122 cancelled operators, a draft Cabinet note prepared by the Department of Telecommunications (DoT) has recommended the spectrum price be discovered through an auction involving "existing players and new parties".
Sistema Shyam TeleServices Ltd is a venture involving equity participation by Sistema of Russia, the Russian Federation and the Shyam Group of India.
This will be the second high-profile exit from the company in recent months after Arun Kapur, the former chief executive, quit late last year.
We are not a fly-by-night operator, says Sandip Das.
Four proposals by foreign firms deferred; half a dozen others waiting in the wings.
Regulator puts price at average of 1.65 times 3G cost; Sibal's approval needed for rollout.
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