Hutch's migration to the Vodafone brand became complete on Wednesday, but the pug that made the mobile company ever so popular with the masses will remain.
However, Misra added that Vodafone will need to follow this transition up with a highly visible multimedia campaign in the initial two months. "This will instill confidence among consumers that their brand is in the right hands," he said.
Hutchinson Max Telecom Pvt Ltd is planning to consolidate its various telecom operations in India under a single entity, including that of Hutchison Essar Telecom Ltd and Fascel Ltd, for which the company has filed an application with FIPB.
Leading GSM service provider Hutch would roll out its services in West Bengal and Sikkim by the end of the current year, executive director of Hutchison Essar Sandip Das said in Kapurthala on Thursday.
Cellular phone service provider Huchison Essar on Thursday said the company will soon sport a brand new look and also enter Mumbai, the country's business capital Mumbai.
The department had sent a notice to the company seeking details and clarifications on a host of issues besides the original agreement between Hutch and Vodafone to establish the jurisdiction of the tax authorities to determine the tax liability. This follow an SC order in January 2009 to the effect that Vodafone should present its case to the tax authorities first and submit a copy of the share purchase agreement, the deadline for which expires by the end of this month.
Anil Ambani-controlled Reliance Communications has entered into an agreement with GSM service providers Hutchison-Essar and the Aditya Birla-controlled Idea Cellular to share passive infrastructure for cell sites.
Vodafone further said it has "always been confident" that no tax is due on the company. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interest. Asked if the company has filed an application with the Indian government to settle the retrospective tax dispute, a Vodafone spokesperson said, "We can confirm we have filed an application".
The manner in which India has allowed the rule of law to be subverted for over eight years is tragic, notes former additional solicitor general of India Bishwajit Bhattacharyya.
Hinduja group company Hinduja TMT Ltd said on Thursday it has completed the sale of its entire stake in Hutchison-Essar Ltd for over Rs 2,089 crore (Rs 20.89 billion).
The termination of the agreement for Mumbai does not affect the other three circles, for which a merger with Hutchison Essar has already been done.
Financing would not be an issue for the group that had business interests in global finance, telecommunications, film, oil and the automotive sector.
Delhi High Court quashes reassessment proceedings by Income Tax department.
Hutchison holds a 52 percent stake in Hutchison Essar and the Ruias-promoted Essar group 33 percent, while the rest is held by Analjit Singh of Max India and Hutchison Essar CEO Asim Ghosh.
Says cap breached on account of Singh, Ghosh stakes.
Bharti group chairman Sunil Bharti Mittal today asserted that the question of buying Hutchison's stake in its Indian joint venture Hutchison Essar Ltd would only arise after the Ruias had decided the future course of action.
Agency reports said Hutchison Whampoa had received bid interest in its Indian mobile business, but that the prices indicated so far were too low.
Vodafone recently bought the 67 per cent stake held by Hutchison. The remaining equity is held by the Ruias.
A report in The Observer on Sunday said the bidding war for telecom firm Hutchison Essar will erupt again, with Britain's Vodafone preparing to table a fresh offer that would value the target at up to 19 billion dollars.
Finance ministry is understood to have reservations on the ownership of minority stakeholders in Hutchison-Essar and is likely to raise the issue at the FIPB meeting.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
Reliance Communications, along with Malaysian telecom major Maxis, has confirmed its interest in picking up a stake in Hutchison Essar.
Hutchison Telecom, the Hong Kong- based mobile major, on Tuesday said its first-half profits ended June have risen from the sale of its Indian assets to UK's Vodafone that included a one-time gain of Hong Kong dollars 69.3 billion.
Ruias have rights to tag along with Hutch in any sale.
The Hinduja Group on Friday said it is likely to start examining the books of Hutchison Essar Ltd next week and has arranged funds for a possible bid to acquire a controlling stake in the mobile firm.
Ambani to up ante by $3 bn on Ruia's hint at larger premium.
The income tax (I-T) department in Mumbai has requested Vodafone to make an application to the assessing officer for determining the exact tax liability resulting from buying out 62 per cent equity stake from Hutchison in Hutchison Essar Ltd.
A consortium of bankers that will fund the Ruias' bid for Hutchison's 67 per cent equity stake in Hutchison Essar Ltd will begin "due diligence" on the company in the next few days
Siemens has inked an agreement with Hutchison Essar for its music download technology Music2You. the latter will enable full-length songs to be previewed and downloaded on its handsets.
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