The Enforcement Directorate on Monday raided the premises of former Chhattisgarh chief minister and senior Congress leader Bhupesh Baghel as part of a money laundering investigation against his son in the alleged liquor scam case and seized about Rs 30 lakh apart from some documents, official sources said.
'With a very stable technology with limited functionalities, a large network has spanned out.'
This decision was taken at Executive Council meeting of National Association of Software and Service Companies held in Pune.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Seeks clarification on a few issues such as enhancement of entry fee and performance bank guarantee from telecom regulator
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
The new licences will do away with different kinds of permits that are issued to telecom companies for offering various services.
Power Grid Corporation of India's (PWGR's) Q3FY25 revenue declined 3 per cent year-on-year (Y-o-Y) to Rs 11,200 crore, with operating profit falling 7 per cent Y-o-Y to Rs 9,500 crore and margin contracting to 85 per cent from 91 per cent Y-o-Y. Other income surged 89 per cent Y-o-Y to Rs 500 crore, but regulatory income dropped 62 per cent Y-o-Y to Rs 42.5 crore.
TRAI may recommend the DoT to levy one-time non-refundable fee of Rs 50,000 per operator for each service area in which they opt for spectrum sharing.
The long-awaited 5G spectrum auction is expected to be held in May this year if the Telecom Regulatory Authority of India (Trai) submits by March its recommendations on the rules regarding the sale process, according to a senior official of the telecom department. Telecom Minister Ashwini Vaishnaw earlier this month said the Trai has informed that it will submit its recommendations for the 5G auction by March and the Department of Telecommunications (DoT) is simultaneously firming up other processes to hold the auction at the earliest. "Trai has indicated that they will send it (recommendations) by March. "Thereafter, it will take us a month to make a decision around it," telecom secretary K Rajaraman told PTI.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
Seventeen persons, including four hailing from Taiwan, were arrested by Ahmedabad Cyber Crime Branch for allegedly operating a nationwide 'digital arrest' racket, a Gujarat police official said on Monday.
Availability of Wi-Fi is also expected to provide local airlines an additional source of revenues amid stiff competition in the fast growing Indian aviation market.
For the PMO this is urgent as the Digital India framework would depend on how the telecom companies perform. It is also linked to the proposed auction of 5G airwaves.
There are different prices for spectrum up to contracted limit of 6.2 Mhz and for additional airwaves.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
National Commission concluded that false and baseless allegations had been made in the complaint to claim a highly exaggerated and atrocious amount of compensation.
International Monetary Fund (IMF) Deputy Managing Director (MD) Gita Gopinath has condemned the "terrible and disturbing" incident of rape and murder of a trainee doctor in Kolkata. "Personally, it is terrible to have any event of this kind. It is disturbing," she told Business Standard in New Delhi.
DoT plans to initiate move that might lower the revenues telcos share with government.
The Telecom Commission, which is the highest decision making authority within the Department of Telecommunications, on Wednesday, accepted the recommendations of the Telecom Regulatory Authority of India on full-fledged mobile number portability.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
Life has come full circle for Nobel laureate Professor Mohammad Yunus, who faced persecution during Sheikh Hasina's regime for embezzlement, is now all set to head of the interim government in Bangladesh after she resigned and fled the country.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
The govt is expected to achieve the revenue target of Rs 40,000 crore from spectrum sale this fiscal, Telecom Secretary M F Farooqui said.
While the draft M&A policy for the telecom sector has been revised a few times over the past few months, DoT has not made any major changes to guidelines.
The Telecom Disputes Settlement and Appellate Tribunal has decided to charge commission on the petitions, claims and suits for recovery of money or an outstanding amount.
Regulator puts price at average of 1.65 times 3G cost; Sibal's approval needed for rollout.
The telecom industry, with a cumulative debt of around Rs 2,75,000 crore (Rs 2,750 billion), has been mired in various controversies, besides facing intense competition, low tariffs and falling margins.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
Flag Telecom, a Reliance group company, has awarded a multi-million dollar contract for construction of its Falcon submarine cable to Alcatel, a global networks and application service provider.\n\n
All existing emergency numbers will be phased out within a year of rolling out 112, depending upon the awareness about this new facility.
Responding to queries from the Central Vigilance Commission amid allegations from political parties that Rs 50,000 crore (Rs 500 billion) was squandered in distribution of spectrum, telecom ministry said it had gone by the book and had done nothing wrong.
Firms to pay Rs 24,700 cr if spectrum formula is accepted.
Ahead of the coming auction of 2G telecom spectrum, the government has decided to allow all players to bid for all bands.
The regulator added that a split auction of 2100 MHz, used for 3G services, will 'artificially increase the market price of 2100 Mz in February 2015 (auction) because of the severe supply constraint'.
Telecom Commission says refarm all spectrum in 900-MHz band to 1,800-MHz band operators.
Earlier, the Telecom Commission, a decision-making arm of the Telecom Ministry, had recommended that the government pick up a majority stake in the special purpose vehicle created to execute the sale of surplus land lying with VSNL (now Tata Communications).
Collectively, these companies spent Rs 628 crore (Rs 6.28 billion) on political contributions in the past five years, according to their annual reports.
Earlier, during the day, Telecom Minister Kapil Sibal met various operators to discuss the national broadband policy.
