Bharti Televenture, a flagship of Sunil Mittal promoted Bharti Group, on Friday turned a one billion dollar company with its turnover touching Rs 5002 crore ($1.13 billion)
In a show-cause notice, the information and broadcasting ministry asked Bharti Telemedia to furnish explanation failing which the government could consider suspending the licence till such time the company obtains necessary approvals from FIPB and meet the eligibility conditions. A Bharti spokesperson said the company has complied to all licence conditions in its DTH venture and the same has been communicated to the government.
The Bharti Group, promoted by the Mittal family, had searched high and low for a foreign partner when it wanted to start its cash
Both the accused placed on record the apex court's order and submitted separate personal bonds.
Airtel has allocated 199,870,006 new equity shares at price of Rs 340 each share, representing 5 per cent equity stake in the company to QFE.
Sunil Mittal, chairman & group managing director of the Bharti group, is Business Standard's CEO of the Year for 2005-06.
Telecom powerhouse Bharti Airtel's boss Sunil Mittal donated $1 million (Rs 4 crore) on Wednesday for education of underprivileged children in villages.
A sharp dresser, with a prominent jawline, Kohli will now have to contend with aggressive competition from Vodafone-Essar, perhaps the toughest so far in his career.
The company, according to industry sources, is hoping to get an FIPB approval before that. Market sources said the sales team has sounded out October 8 as the launch date. Government had earlier asked Bharti group to seek a separate FIPB approval within three months for its upcoming DTH services.
It's celebration time for Bharti Airtel, which last week became the third telecom brand in the world to cross the magic 100 million-subscriber mark in a single country. The gap between Airtel and its nearest competitor, Vodafone, is now about 26 million subscribers.
Bharti Group on Monday offloaded 10 per cent of its stake in Bharti Telesoft to a group of investors led by Westbridge Capital for $13.5 million.
He likes to try and try again, as the renewed merger talks with MTN have demonstrated.
Telecom giant Bharti Airtel on Monday proposed an annual pay package of up to Rs 70 crore (Rs 700 million) for its chief Sunil Mittal, besides other benefits, while seeking its shareholders' nod for his remuneration.
In his first public appearance after talks were called off on September 30, Mittal, who is CMD of Bharti Airtel said, "No further talks with MTN and the current round is over."
Messaging is going to become the highway for the people coming on to the Internet, says Kavin Bharti Mittal.
Sunil Mittal-owned Bharti Group has formed a consortium with Changi Airport of Singapore (a 50:50 joint venture) to bid for the development and management of Delhi and Mumbai airports.
Mittal said he discussed a plethora of issues with Commerce and Industry Minister Piyush Goyal and sought the government's support for faster clearances to streamline the group's investment plans.
Demanding a level playing field for the old operators, Bharti group chief Sunil Mittal told PTI: 'our view is that the spectrum given to us and other operators from time to time is under a policy and there is no question of any additional payment for this.'
Tesco has admitted that its plan to be the first multinational supermarket retailer in India has unravelled.
The judge summoned Birla as one of the accused in the case.
Bharti Walmart, the joint venture between Bharti Enterprises and Walmart, the world's largest retailer, is also expected to open cash and carry stores in the South in the next 12-24 months.
Bharti Airtel will start talks for "disengagement" from its partner Vodafone once the UK company decides on its future course of action in India.
The two also met corporate affairs minister Salman Khurshid, who asked them to keep his ministry in the loop.
Supporting West Bengal Chief Minister, Buddhadeb Bhattacharjee's stand, Mittal said, "Let us see for the next 7-10 years what Indian companies deliver and then we can take a call."
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
Bharti Tele-Ventures Ltd, which runs GSM mobile services under the Airtel brand name, would invest around $1 billion this financial year for its capital expenditure plans.
With investors seeking clarity from the market tribunal SAT on Bharti Airtel's proposed mega deal with MTN, the Sunil Mittal company today said it is still in discussion with the South African firm.
In an interview at the GSMA conference in Barcelona on Tuesday, Mittal broke his silence on the scam and the very public spat between Tata Teleservices and Reliance Communications: "My plea is that the industry shut their mouths; zip up and let the various investigative agencies do their job," he said.
Bharti Enterprises on Tuesday said it expected to start its life insurance venture with French major Axa by June end.
Taking advantage of liberalised norms for external commercial borrowings to raise upto $500 million through the automatic route, Sunil Mittal-promoted Bharti Group is planning to tap the overseas market next fiscal.
Sunil Mittal-owned Bharti group on Friday announced it would buy 27.5 per cent stake of Telesystem International Wireless of Canada in Hexacom, a cellular telecom operator in Rajasthan.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Sunil Mittal's plan to merge his Bharti Airtel - India's biggest mobile-phone operator -with South Africa's MTN, coupled with the company's 3G foray, is likely to put pressure on its balance sheet, as the estimated cash requirement would be Rs 40,475 crore (Rs 404.75 billion) in this fiscal.
Confirming the SOX compliance exercise, a senior Bharti group executive, however, denied that the company was considering a foreign listing.
Bharti Retail, owned by Sunil Mittal's Bharti Enterprises, on Wednesday started retail operations in the country with neighbourhood store format, Easy Day, from Ludhiana in Punjab. Bharti has set up three stores in Ludhiana.Bharti has announced plans to invest Rs 10,000 crore (Rs 100 billion) to set up stores across the country by 2012. The company said that it is looking at a retail space of 10 million square feet and employ 60,000 people.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
Bharti Group, which has bid for modernisation of the Delhi airport, would consider taking up similar jobs for other non-metro airports if it wins the bid, its chief Sunil Mittal said on Tuesday.
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