Idea Cellular will have to furnish an undertaking that it will entertain all the liabilities whenever a final decision is taken by the courts
Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore (Rs 44.60 billion).
It is unrealistic to expect that change will happen in one year: Birla
The brand integration not only marks the completion of the largest telecom merger in the world, but will also set the company on its future journey to offer strong digital experiences to 1 billion Indians on its 4G network.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
VIL pegs dues at Rs 21,533 cr, less than half of DoT estimate. During a meeting with Vodafone Group CEO Nick Read, Telecom Minister Ravi Shankar Prasad made it clear that the government is against a monopoly in the telecom sector, and wants Vodafone Idea to survive and remain invested in India.
Tata Steel, others sell assets abroad after taking massive impairments.
If Vodafone Idea shuts, a bulk of the high-paying ARPU customers will move to Airtel as Reliance Jio does not have a comprehensive postpaid offering like it, and have aggressively preferred to play in the prepaid market. The bulk of Vodafone Idea customers use 2G phones and only a few of them use data. It will be easier for Airtel to woo these customers as they can shift seamlessly to its 2G network without changing handsets or even SIM cards,
Though Mistry does not make it to the club of the top 10 highest paid India Inc leaders, he will be among the next 10.
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
He congratulated the Uttar Pradesh government and industrialists for their commitment for development.
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
According to a senior CBI official, the agency has evidence to suggest the finance ministry's recommendations were overlooked while giving a licence to MCX-SX in 2008.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
Manoj Sinha will retain his current role in the railways.
Those for power sector to see tussle between prior owners & new challengers
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
And the way to a cure begins with conversation.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
'Right time, right place, right business and I could see I was the right person. It was a now or never moment in a sense. If I didn't do it then, then when? There is little point in entering a business as an entrepreneur when someone else has proven the concept.' BJP leader Yashwant Sinha's son started ReNew Power during the UPA II government to focus on clean energy.
By refusing to follow the pack and remain politically correct, Aamir Khan has paid a price. A fascinating excerpt from Shobhaa De's new book, Insatiable.
The meeting will focus on how to make the crisis an opportunity for India.
Ambani brothers on Wednesday showered lavish praises on Prime Minister Narendra Modi saying, India has now got a decisive and visionary leader.
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.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
Transparency is more than welcome, but govt should not look vindictive.
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
India Inc has too much on its plate to ensure double digit growth in FY16.
'India Inc has been afraid to criticise the government of the day for many years now, and it is perhaps unfair to blame the current one alone,' says Shyamal Majumdar.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
The Supreme Court on Wednesday stayed the summons to former Prime Minister Manmohan Singh and 5 others by a trial court over the coal scam.
Indian CEOs might like to make some serious course correction.
Vodafone and Bharti have pointed out that, for data, their revenue realisation should be at Rs 30-35 per GB for them to cover their costs as opposed to the current figure of over Rs 11 per GB. But Jio has suggested a gradual increase to Rs 15 per GB and then maybe to Rs 20 per GB after six to nine months.
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
Ambani's $15 bn bet will upend Indian telecom
