A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
Manoj Sinha will retain his current role in the railways.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
Jio has accused incumbent telecom operators for not providing the required number of equipment to connect its mobile network with theirs
CBDT circular issued last month had raised multiple taxation concerns.
One tenth mobile subscribers in India own multiple mobile phone connections, says a report.
Telecom subscriber base crossed the 95-crore mark in August, after a gap of more than two years, on the back of higher mobile users whose number touched 92.43 crore.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
India and the US should not get into any lengthy investigations for business related concerns.
The move came as the country badly needs capital inflows as the rupee comes under pressure
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
New government should consider reforming taxation rules.
However, the government is readying a relief package and it could include a cut in the licence fee to 5 per cent, two years' moratorium on paying spectrum charges with interest, and referring the GST tax refund issue to the Council.
But the road map of telecom will be decided by one thing: Whether Jio sticks to its ambitious plan and whether incumbents have enough financial muscle or ability to raise money every year to ensure that Jio does not reach its target, says Surajeet Das Gupta.
The petitioner said the companies were increasing the prices just to earn huge profit. Companies like Bharti Airtel had posted an annual profit of more than 90 per cent, the NGO said.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
The race for India's fourth largest mobile phone company Hutch Essar Ltd intensified on Wednesday with the arrival of Vodafone CEO Arun Sarin in India.
SC raised questions over the government's decision ordering mandatory seeding of mobile numbers with Aadhaar.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mobile operator Hutchison Telecom, taken over by global giant Vodafone, has doubled its customer base while earnings and revenues swelled over between 50-55 per cent last year.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
A day after Vodafone announced its $11.1 billion acquisition of Hutchison's equity holding in Hutch-Essar, India's fourth largest mobile service provider, it received an unsolicited advice from the Egyptian CEO of Orascom, Naguib Sawiris.
Airtel, Vodafone, Idea, RCom, Reliance Jiosubmitted applications.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Arun Sarin, the former chief executive of telecom giant Vodafone, who was reportedly in the race for the CEO post at Internet major Yahoo has decided not to accept the offer, says a media report.
Total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
Given the escalating cost of doing business, the revenue opportunity is decreasing and consolidation is an inevitable part of the industry.
Govt likely to make security clearance mandatory for telcos irrespective of equity holding before giving licences; DoT members to meet today.
One of India Inc's top demands is the abolishing of the MAT.
The government must rein in its tax officers.
Reliance Jio test launched its services last December, but dates for commercial launch has not been announced.
I-T dept has asked for Rs 5,357 crore ($865 million) alleging the company had suppressed its revenue for FY09 to evade taxes
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Telecom operator Vodafone and Star India announced a tie-up on Thursday through which the broadcaster's sports telecasts can be viewed on mobile phones, which was welcomed by former India captains Kapil Dev and Sourav Ganguly in Mumbai.
The SC had reserved its verdict on a bunch of similar petitions.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
