In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
He congratulated the Uttar Pradesh government and industrialists for their commitment for development.
The Birlas are investing $100 million in the financial services business in fiscal beginning April 1.
The Central Bureau of Investigation on Tuesday filed a fresh status report in a sealed envelop in the Supreme Court on coal block allocation scam giving details of the ongoing probe in which companies, business tycoons and bureaucrats have come under its scanner.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
Transparency is more than welcome, but govt should not look vindictive.
A change in recommendation in favour of Birla did certainly happen but the question is whether it was a bona fide decision. Jyoti Mukul reports
Global expansion to drive the company's fortunes
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
As India's online population crosses 450 million, e-commerce ventures are trying to grab a pie of online sales estimated to hit $48 billion by 2020.
Birla is believed to have bought the property - a 30,000 square feet plot with a built-up area of 25,000 square feet - for personal use.
The meeting will focus on how to make the crisis an opportunity for India.
Ambani brothers on Wednesday showered lavish praises on Prime Minister Narendra Modi saying, India has now got a decisive and visionary leader.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Aditya Aluminium project ready but clearances still stuck for mine
An alumnus of IIM-A from the 1983 batch, Nanda was a Robert Braucher Professor of Practice at Harvard Law School and later a Harvard Business School faculty member, before he took charge on September 2, 2013.
It is unrealistic to expect that change will happen in one year: Birla
'Right time, right place, right business and I could see I was the right person. It was a now or never moment in a sense. If I didn't do it then, then when? There is little point in entering a business as an entrepreneur when someone else has proven the concept.' BJP leader Yashwant Sinha's son started ReNew Power during the UPA II government to focus on clean energy.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
Ambani's $15 bn bet will upend Indian telecom
''Being Human represents a concept.' 'We could have pushed the budget to any level we wanted, but we did not.' 'We wanted to design a place that was easily identifiable and relaxing.' 'When somebody comes in for help, you don't want to have onyx and marble flooring.'
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
The merger will result in substantial cost and capex synergies with an estimated net present value of around USD 10 billion after integration costs and spectrum liberalisation payments, with estimated savings of USD 2.1 billion annually from the fourth year of the merger.
India Inc has too much on its plate to ensure double digit growth in FY16.
An impartial probe into the coal scam can only take place once Prime Minister Manmohan Singh steps down from office, Bharatiya Janata Party said on Friday in reaction to his offer to face CBI in a coal block allocation case.
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
Indian-American business leaders meet to discuss ways to make this initiative a success.
.jpg)
The Tata Group says it is bullish on investment in India.
A special court on Monday asked the Central Bureau of Investigation to clarify whether "rule of law" was followed in allocation of coal blocks to top industrialist Kumar Mangalam Birla's Hindalco.
Since the court had earlier questioned distribution of mining rights through the screening committee route, experts say the solution worked out would be weighed on the basis of legality.
How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
And the way to a cure begins with conversation.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
Indian billionaires do not believe in sitting on their wealth.
'I have realised that if we want to make a difference in global ranking, there has to be movement in a few dimensions, but it is a bit beyond us.' Outgoing IIM-A director Ashish Nanda discusses his tenure at the revered institute with Vinay Umarji.
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
