Critics say the programme, launched 10 months ago in India in collaboration with operator Reliance Communications, violates principles of net neutrality
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
The Sensex opened with a positive gap of 61 points at 16,782. It finally ended with a gain of 405 points at 17,126. Bharti Airtel zoomed 9.6% to Rs 925 and RCom soared 8.3% to Rs 577. ICICI Bank surged 4.5%, HDFC and SBI rallied 4% each, Satyam, NTPC and Larsen & Toubro were up over 1% each and ITC, ONGC, R-Energy, Wipro, Tata Steel, BHEL and M&M were other gainers. ACC dropped nearly 2% to Rs 783 while Maruti and DLF were down around 1%.
The website will now be repositioned as an e-commerce portal such as eBay.
Reliance Communication Ventures on Monday got listed at the Bombay Stock Exchange opening strongly at Rs 290 a share.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
Telcos may hike mobile rates to recover spectrum cost: Moody's
China Development Bank takes Reliance Communications to NCLT over loan default
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
MindSquare Technologies is a group company of 1neoteric Technology.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
Typically these are high-beta stocks and earnings are volatile
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
A total of over Rs 1,641 crore of premium is pending against five lease holders of MMRDA
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
The country's wireless subscriber base fell to 87.05 crore at the end of September, registering the first drop in five months, after Reliance Communications deactivated services of over 1 crore "unprofitable" users.
Claim breach in procedure, demand probes; Reliance denies charge
The Delhi high court on Thursday put on hold the insolvency resolution process (IRP) proceedings against Reliance Communications (RCom) chairman Anil Ambani in relation to the recovery of Rs 1,200 crore loans given by SBI to his two firms. Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel Ltd (RITL), respectively, in August 2016.
The government has upgraded the security cover of billionaire industrialist Mukesh Ambani to the top category of 'Z+' after a review of perceived threat perception to him by central intelligence and security agencies, official sources said on Thursday.
The Aam Aadmi Party has demanded the dismissal of Telecom Minister Ravi Shankar Prasad alleging a conflict of interest that has prevented him from issuing a notice to Mukesh Ambani's Reliance Jio on the 4G issue, a charge vehemently denied by Prasad who said he never gave advice or appeared for the company.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
Indian telecom seems to be getting back on its feet.
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
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