From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Supreme Court had on October 24 upheld government contention that non-core revenue in telecoms groups should be included in adjusted gross revenue. According to DoT's calculations, Bharti Airtel faces a liability of around Rs 42,000 crore after including licence fees and spectrum usage charges while Vodafone-Idea may have to pay about Rs 40,000 crore.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
Within a year of Gopal Vittal becoming the joint MD and CEO of Bharti Airtel's India operations, the company has elevated him as the MD and CEO for Bharti Airtel's operations in India and South Asia.
The Sunil Bharti Mittal-led firm on Sunday approached its competitors to set up intra-circle roaming and other processes in the way it is done by the sector to respond to disasters.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
Elon Musk's Starlink has got licence for satcom services in India, according to sources.
Telecom giant Bharti Airtel on Wednesday reported a 9.6 per cent fall in net profit at Rs 688.9 crore (Rs 6.88 billion) for the first quarter ended June 30, 2013.
Telecom major Bharti Airtel on Wednesday reported a 29 per cent decline in consolidated net profit at Rs 512 crore (Rs 5.12 billion) for the quarter ended September 30, 2013, mainly on account of increase in finance cost and forex losses due to rupee depreciation.
Mittal would travel in trucks with his consignments.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
Bharti Airtel chairman Sunil Mittal on Wednesday said the regulatory regime needs to be simple to avoid fresh litigations in the telecom sector, asserting that collaboration among competing players, lower duties and reduction in spectrum pricing will help unleash the full potential of the industry. The telecom czar noted that the "temperature" of the industry needs to be lowered when it comes to litigations and appealed to the government to look into the matter. The timely reforms that were announced brought in cheer and heightened comfort for all the active players in the sector, Mittal said and urged the industry counterparts to focus on building the next wave of connectivity in the run-up to 5G and beyond.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
Top industrialists including Sunil Mittal, chairman, Bharti Airtel on Thursday called on Home Minister P Chidambaram.
Next week, the government is auctioning spectrum at a minimum bid price of Rs 14,000 crore for 5 MHz of airwaves for all the country's 22 telecom zones.
Managing director of Ashok Leyland R Seshasayee was elected CII president while Sunil Bharti Mittal of Bharti Telecom became the vice president on Wednesday.
Mittal said any company, which does business that can cause loss of life of a magnitude where an entire township could be wiped out, needs to be responsible enough not only on technology but also that the backup is enough.
India's leading private sector cellular operator, Airtel is targeting a mobile customer base of 25 million in the next two years, Sunil Bharti Mittal, chairman and group managing director, Bharti Enterprises, said on Wednesday.
Govt's revenue estimates may take hit on spectrum sharing, trading deals
'The service we are offering is for all telcos and not just Bharti.'
While Indian telecom czar Sunil Mittal's Bharti did not share deal details, UK Business Secretary Alok Sharma said his government and Bharti Global, will provide $500 million each.
Spectrum auction for mobile radiowaves services worth Rs 96,000 crore ended with bids worth about Rs 11,000 crore, according to sources. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Bharti Airtel chairman Sunil Mittal on Thursday said he had reached out to Vodafone's Nick Read after bold telecom reforms were announced by the government and will also speak to RIL's Mukesh Ambani, as the telecom czar vowed to take the lead in bringing the industry together to unleash India's telecom dream. Mittal exhorted the industry to collaborate in areas such as infrastructure sharing to reduce costs but vehemently ruled out possibility of any cartelisation among players. Amid reports of its potential tie-ups with handset makers to counter Jio's upcoming ultra low-cost smartphone, Mittal said Airtel is in a state of "readiness" on an affordable smartphone "should a need arise".
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
Bharti Airtel on Wednesday announced a new corporate structure to sharpen the company's focus on rapidly unfolding digital opportunities while enabling it to unlock value. The move comes at a time when digital is turning out to be a compelling proposition for players in the Indian market, where the use of smartphones and better broadband connectivity has spurred the adoption of a new range of services. Players are positioning themselves beyond the core telephony offerings, as they enhance digital engagement, build future streams of revenue and create brand differentiation, besides redefining themselves as a larger platform of digital services, say market watchers.
Bharti Airtel Chairman and Managing Director Sunil Bharti Mittal, Vodafone Plc CEO Vittorio Colao, Telenor CEO Jon Fredrik Baksaas and Idea Cellular Chairman Kumar Mangalam Birla on Wednesday met ministers and senior government officials to present the industry's concerns over telecom regulator Trai's proposals on the auction of spectrum.
The Minister was talking to media on sidelines of a function organised by Department of Telecommunication for new version of Internet addresses, IPv6.
The company received a fresh equity infusion in 2012-13.
Operators oppose levying of charges for additional spectrum with retrospective effect.
Lack of time was cited as the main reason for Bharti Chairman Sunil Mittal's exit from the Unilever board.
Telephone subscribers in the country is expected to reach 300-400 million by 2010 from 100 million currently, Sunil Bharti Mittal, chairman and MD, Bharti Airtel said.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
Big retail is fine tuning its strategy to win over critics and corporate social responsibility drives are providing it with the means.ITC and Reliance have already launched projects to recruit street hawkers, the main adversaries of big retail. And now Bharti Mittal has opened a retail innings of its chain, Easy Day, in Ludhiana with something similar.
Federation of Indian Chambers of Commerce and Industry president and Bharti Enterprises vice president Rajan Bharti Mittal chaired a symposium on corporate leadership on climate change in the presence of the Prince of Wales, who is here in connection with the Commonwealth Games.
