NCLAT chairman Justice S J Mukhopadhaya dismissed the pleas against Ambani and officials after observing that consent terms agreed upon between RCom and minority shareholders for payment of dues cannot be a ground for initiation of contempt proceedings.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
The NSE Nifty closed at 3,679, up 70 points.
Even as lenders are getting ready to send more companies to bankruptcy courts from this week, several old cases are still awaiting resolution with no clarity on the completion of the process. This includes some high profile cases from the first list of 40 companies including Videocon Industries, Bhushan Power and Steel and Lavasa Corporation, sent by the Reserve Bank of India (RBI) for resolution. The delay is mainly due to litigation and late clarifications by various government agencies including the Reserve Bank of India and litigation by the Enforcement Directorate.
The ransom subsequently kept increasing to Rs 200 crore and Rs 400 crore each time a fresh email was sent.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
New Delhi is also set to top its target of raising at least $13 billion.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for the roll-out of 4G services.
With the Beijing Olympics 2008 starting from Friday, three of the major Indian telecom service providers Reliance Communications, BPL Mobile and Tata Communications are launching services aimed at tapping the communication potential of the event.
In view of the recent attacks on its agri retail stores, the Reliance Industries group company on Tuesday said it will go slow on the roll out of Reliance Fresh outlets in the state.
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
The network sharing agreement is the start of a new era of partnership between the brothers. More deals on sharing towers and intra-city fibre network are likely.
Further deleveraging needed to cut net debt and sustain operational improvement
Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani has taken a huge cut in his total remuneration from his four main companies in 2011-12 at about Rs 5.5 crore (Rs 55 million), lower by nearly two-third from the previous year.
After being at loggerheads for 8 years, Ambani brothers have sealed a Rs 1,200-crore (Rs 12-billion) deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.
BSNL, Tata Teleservices and Reliance Communications, who also provide GSM technology-based services, are not part of the report.
The government on Wednesday said two Anil Ambani companies have been fined a total of Rs 5.49 crore (Rs 54.9 million) for shutting down rural telephone services during 2010-11 in violation of the USOF agreement.
Total income rose 6.55 per cent to Rs 5,361 crore (Rs 53.61 billion) compared with Rs 5,031 crore (Rs 50.31 billion) for the same period last year.
With seven million new subscribers, India accounted for the highest net addition of mobile subscriptions globally in the second quarter of 2023, according to the August edition of Ericsson Mobility. Among national markets, India was followed by China with five million and the US with three million subscribers. The subscriber penetration in India, however, stood at 79 per cent, compared to 120 per cent in China, the report said.
The company said with the pack, customers can access data at Rs 10 per MB on international roaming while the base tariff is Rs 614.4 per MB. Outgoing voice calls to India can be made for Rs 40 per minute as compared to the base tariff of Rs 165 per minute.
Most telcos say the speed will surpass fixed broadband as the 5G roll out, which is currently on 360,000 towers, crosses 400,000.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
He supervised and handled several major big ticket insolvency cases that includes Essar Steel, Bhushan Power & Steel, Bhushan Steel, Jaypee Infratech, ElectroSteel Steel, Binani Cement, Reliance Communications.
Mukesh and Anil will announce two more infrastructure-sharing agreements by mid-June.
Domestic brokerage Sharekhan's last month's analysis of buy and sell transactions by mutual funds shows that the fund houses purchased stocks from sectors such as infrastructure, IT, telecom and healthcare, while offloading shares from oil and gas and banking sectors. Domestic mutual funds are lapping up the buying opportunity present in the bear gripped stock market and made net purchases worth Rs 3,179 crore (Rs 31.79 billion) in equities in June.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
Reliance Communications, Reliance Infratel, Huawei Technologies and Walt Disney Company (India) are among the companies which misused or diverted funds raised from abroad under the ECB route in the last three years, Parliament was informed on Friday.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
A note prepared for Communications Minister A Raja by the DoT officials cites the October 18 meeting and offers various options available before the ministry given that it does not have enough spectrum to meet the needs of the 46 companies who have made 575 applications for spectrum in 22 telecom circles across the country.
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
The group's telecom arm, RCom, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.
The biggest losers on the National Stock Exchange's benchmark Nifty 50 index are stocks that have seen the highest turnover over the past 12 months, according a report by Morgan Stanley.
Reliance Industries on Friday said that their offer of roaming facility across 673 cities on WLL phones was "well within the licence conditions" and the company has communicated this to Telecom Regulatory Authority of India.
The company will structure its services under four business segments -- Data, voice, WiMax and National Long Distance services -- that would help it increase focus on customer segments and improve revenue generation. The group will realign operations of Reliance Globalcom (formerly Flag Telecom), Reliance Globalcom Services (earlier acquired Yipes Enterprises) and Reliance Vanco Group (formerly Vanco Group) under the four proposed verticals.
Analysts rue the research firm's dramatic delivery approach, pan the bear cartel view.
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