Cellular service provider Hutch will spend Rs 200 crore (Rs 2 billion) on network expansion in Rajasthan this year.
Mittal and Ruia did not appear in the Special CBI Court on Monday while one of the accused, Canada-based NRI Asim Ghosh, who was the then Managing Director of accused firm Hutchison Max Telecom Pvt Ltd, is yet to be served with the summons issued against him in the case.
Air India's plans to lease its headquarters in Nariman Point has been hit.
Mittal, Ruia and former Telecom Secretary Shyamal Ghosh appeared before Special CBI Judge O P Saini and the court adjourned the matter in pursuance of the order passed by the Supreme Court on April 18.
Both the accused placed on record the apex court's order and submitted separate personal bonds.
Their first target would be bulk buyers.
The court, after going through the apex court's order on separate petitions filed by Mittal and Ruia, listed the matter on April 16 for further proceedings. The apex court will hear their pleas on April 15.
A bench headed by Chief Justice Altamas Kabir issued notice to CBI seeking its response on the petition filed by Ruia challenging the Special CBI Court's order summoning him as an accused in the case.
Cut-throat competition, high spectrum costs, and frequent flip-flops in government policies have made it difficult for Vodafone to make money in the country.
Without assigning any reason, Justice Dave, who was part of the bench headed by Chief Justice Altamas Kabir, opted out of hearing the pleas of Mittal and Ruia challenging the summons issued to them in the case.
On Thursday, the SC will resume hearing on Mittal's plea challenging the court's summons.
Ajit Issac started as a management trainee at Godrej.
Two leading mobile operators, Vodafone Essar and Idea Cellular, are understood to have increased pre-paid tariffs by up to 20 per cent, in line with the recent Bharti Airtel move. According to industry sources, the tariffs were increased few days ago.
Vodafone is locked in twin tax disputes with the government.
Petroleum and Natural Gas Regulatory Board in its July 2 order imposed a cost of Rs 100,000 on the three private fuel retailers who filed a complaint against Indian Oil, Bharat Petroleum and Hindustan Petroleum for indulging in 'restrictive and unfair trade practices and cartelisation'.
Gujarat has caught the fancy of a large number of corporate heavyweights.
The government may be waiting for the outcome of an arbitration initiated against its levy of Rs 10,247 crore retrospective tax on UK's Cairn Energy Plc before deciding on appealing against losing a tax case against Vodafone Group, sources said. An international arbitral tribunal is expected to give a decree within next few days on Cairn Energy Plc's challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes. If the arbitration award in the Cairn cases goes against India, the government has to pay the British firm over Rs 7,600 crore to reverse the dividend and tax refund it had ceased and shares it sold to recover part of the tax demand.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
Lower bank rates the main draw; $6 bn to be raised in next few months.
Meeting in the midst of a raging controversy, an inter-ministerial group on coal blocks on Monday skirted a decision on cancelling allotments of 58 mines, but firmed up the guidelines for forfeiting of bank guarantees for failure to develop them.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
Rapping the government for its failure to timely implement the competitive bidding mechanism for allocation of coal blocks, CAG on Friday said part of the Rs 1.86 lakh crore loss could have been partially tapped had the procedure been put in place earlier.
Essar Steel, Ispat Industries and Jindal Vijaynagar Steel made remarkable gains in early trades on Wednesday after financial institutions on Tuesday announced a debt recast package for the steel makers.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
The court said a 'scam was created when there was none'.
First day of the sixth edition of 'Vibrant Gujarat' saw investment commitments of Rs 28,000 crore from corporates such as Essar, ABG Shipyard, Jubilant Lifescience and Adanis.
In his complaint, Delhi resident Rajender Yadav had alleged unfair trade practice by Vodafone for deducting Rs 50 from his account towards activating 'hello' tune service on his number without his consent.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
The Delhi high court on Tuesday refused to grant early hearing on the Central Bureau of Investigation's appeal challenging the acquittal of former Union telecom minister A Raja and others in the 2G spectrum allocation scam case.
The recommendation, if implemented, could severely dent coal miners' bottom line.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
Vodafone's assessment is that the controversy over the spectrum allocation case is not over.
The first notice in the transaction relating to the sale of 67 per cent stake of Hutchison Essar Ltd was issued on March 15, 2007, under section 133(6) of the Income Tax Act.
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
The CEOs, sources said, also discussed the steps to raise domestic production of coal.
With an expanding domestic market, increasing cost and higher attrition rate, outsourcing action is shifting to tier-III and IV cities.
Experienced administrator Essar Gabriel has been named the new general secretary of the International Association of Athletics Federations (IAAF) replacing the retiring Pierre Weiss, the governing body said on Tuesday.
To be second Indian company after Essar to have a refinery abroad
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
