Private mobile service provider Hutch-Essar on Friday said its operations across 13 circles in the country have been consolidated under a single entity - Hutchison Max Telecom.\n
In the course of the investigations, CBI has found irregular allocation of additional spectrum beyond 6.2 MHz to 10 MHz to GSM operators, including Bharti and Vodafone during Mahajan's rule.
The companies are being probed into for alleged corruption in spectrum allocation during NDA regime.
A presentation by the CBI to a Joint Parliamentary Committee last week said the decision led to a loss of Rs 508 crore to the exchequer.
Max India on Monday said it would completely exit from the telecom business by divesting its meagre stake of about two per cent in the cellular operator Hutchison India to raise funds for its healthcare and insurance services.
Special CBI Judge O P Saini adjourned Monday's proceedings in the wake of stay granted by the Supreme Court on separate pleas filed by Mittal and Ruia challenging the March 19 order of the trial court summoning them as accused in the case.
Special CBI Judge O P Saini adjourned today's proceedings after advocate Siddharth Agarwal, appearing for Mittal, said the Supreme Court is scheduled to hear in March the separate pleas filed by Mittal and Ruia challenging the March 19, 2013 order of the trial court summoning them as accused in the case.
Cellular operator Hutchinson has bagged exclusive rights for the content of ICC World Cup Cricket 2003 for mobile telephony, enabling it to send video clips of every match's "best moments" on a cellphone.\n\n\n\n
Continuing the efforts to strengthen its presence in telecom JV with Hutchison, Ruias' Essar Group is considering buying Max Telecom and IL&FS's 3.16 per cent stake in the Hutch-Essar joint venture.
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
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.
Over the years, Mr Singh has got in and out of innumerable businesses, cutting across sectors. He is one businessman who I have always found to be in a start-up mode, says Bhupesh Bhandari.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
