Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
A total of over Rs 1,641 crore of premium is pending against five lease holders of MMRDA
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.
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.
Claim breach in procedure, demand probes; Reliance denies charge
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
'When a Project Director is appointed, the whole organization -- including the Chairman ISRO -- works for his success. It is a lesson that has been of abiding value all through the other projects I have worked on,' recalls the late President, one of the earliest pioneers at ISRO.
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.
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 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.
Indian telecom seems to be getting back on its feet.
RCom has also tied-up with select credit card providers for its latest offering.
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
The company is looking at demerger of land banks from RCom and then go for separate listing.
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.
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.
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
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.
If Reliance Jio resets the rules of the game with low voice and data tariffs, most incumbents will find themselves back to square one.
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.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
RCom and Tata Teleservices are the top net losers of subscribers under mobile number portability (MNP) services.
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
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.
US e-commerce giant Amazon has written to Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India (Sebi), to take action as is necessary to comply with the Supreme Court Judgment, related to the $3.4-billion merger deal between Future Group and Reliance. Amazon has requested Sebi to direct the Indian stock exchanges to withdraw the Observation Letters related to this deal with immediate effect. In January this year, Sebi had given a go-ahead onto Future Group's scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore ($3.4 billion) deal.
Jio's Estonia arm and Finland-based University of Oulu have signed an agreement to collaborate for development of 6G technology as well as to foster entrepreneurship. The collaboration with the university is expected to extend Jio's 5G capabilities and will help explore use cases in the 6G era. Jio Platforms is the parent of telecom player Reliance Jio.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
The minister said the companies have given representation which is being examined by the DoT before taking a final decision.
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.
RCom shares fell 0.34 per cent to Rs 145.50 at the close on the BSE.
It offers a discount of up to 96 per cent on data and and up to 92 per cent on call charges.
The case relates to the company allegedly developing a software that helps users increase probability of a child of particular gender.
Programmes offers pared-down web services on mobile phones along with Facebook' s own social network and messaging services cost free
'As the world goes digital, we cannot afford to be left behind.'
Another major announcement that came was an MoU signed between GE and Hindustan Aeronautics Limited to jointly produce fighter jet engines for the Indian Air Force.
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