The approved package for Mittal includes a total fixed pay (inclusive of salary, allowances and retirement benefits) of up to Rs 20 crore (Rs 200 million) per annum, variable pay (performance-linked incentives) of up to 200 per cent of the annual fixed pay in a financial year, and also perquisites worth up to 50 per cent of the fixed pay, taking the total package to an amount not exceeding Rs 70 crore (Rs 700 million).
Airtel has pitched for a hike in mobile and data tariffs.
The telecom to look at opportunities to acquire another firm in India.
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The South West District Consumer Disputes Redressal Forum said that Tara Chand, a Delhi-based businessman, was entitled to three domestic trips instead of one as contended by Airtel since he had bought the connections in the names of three directors of his firm.
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
While Airtel's financial performance started improving from third quarter of 2013-14, the the drop in the total remuneration of Mittal has been mainly because of Rs 75 lakh (Rs 7.5 million) reduction in performance-linked incentive, as per the latest Annual Report of the company.
Bharti Airtel and Tata Group have terminated discussions for a merger of their direct-to-home (DTH) business, according to a Bombay Stock Exchange (BSE) filing on Saturday.
Mittal said that overall, he expected that by March 2018, the "dust will settle down" for the entire industry.
Airtel has informed the government and regulator Trai that it has approached Reliance Jio and Vodafone Idea with a proposal for a joint initiative to unite the industry against rising telecom fraud and scams.
Mittal would travel in trucks with his consignments.
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
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.
Airtel acquired African telecom operator Zain in 2010 for $10.7 billion.
Shares of Reliance Industries as well as Bharti Airtel began the trade on a positive note on Wednesday after the two firms announced their partnerships with Elon Musk's SpaceX for providing high-speed internet services in India. Bharti Airtel stock opened with a gain of 5.49 pc to hit a high of Rs 1,388.25 apiece on the National Stock Exchange (NSE). Soon, it pared all gains and traded 0.77 per cent lower to Rs 1,650.10 per piece.
Sunil Mittal's race up these rankings to No. 2 marks a triumph of core competence over diversification in India.
Bharti Airtel on Monday reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter, and the company unveiled top-level changes, including Gopal Vittal moving into the role of executive vice chairman on January 1, 2026. India's second-largest telco - that competes with Reliance Jio and Vodafone Idea in the Indian telecom market - clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.
The telecom industry, he said, is vital to the nation and the digital agenda of the government.
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
ICICI Bank chief K V Kamath to be new CII vice president.
Spectrum auction for mobile radiowaves services worth Rs 96,000 crore ended with bids worth about Rs 11,000 crore, according to sources. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Sunil Mittal, President, CII, met French President Nicolas Sarkozy met in Paris to discuss Indo-France business relations.
The combined wealth of India's dollar billionaires is now equivalent to 33.81 per cent of India's nominal GDP.
Mittal becomes the third business person from India in the history of ICC to be appointed on the ICC Executive Board.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Bharti Televentures Ltd has appointed Sunil Bharti Mittal, Rajan Mittal and Akhil Mittal as the directors of the company.
'These are capex and infrastructure-linked sectors, PSUs or stocks of some corporate houses.'
On Thursday, the SC will resume hearing on Mittal's plea challenging the court's summons.
Mike Duke (left), senior vice president, Wal-Mart, and Sunil Bharti Mittal, president CII and chairman & group CEO, Bharti Enterprises, pose for a photo during the US-India Business Council luncheon in Washington, DC on Tuesday.
The chairman and group managing director of Bharti Enterprises, Sunil Bharti Mittal, was chosen the best Asian Telecom CEO
The 68-year-old senior lawyer was earlier married to Meenakshi (his first wife) and Caroline Brossard later in 2020.
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
The collective wealth of the 100 richest went past $1 trillion for the first time.
Mittal's salary in 2019-20 was Rs 26.97 crore, unchanged from the previous fiscal year. However the value of perquisites was Rs 99.8 lakh, down from Rs 1.87 crore a year back. His retirement benefits were unchanged at Rs 2.15 crore.
Sunil Bharti Mittal may have made big bucks out of the mobile telephony revolution in India, but the man says it was a saga of struggle, fight and the "mother of all battles."
Mittal asked the Supreme Court to quash CBI court summons.
Mittal's total remuneration dipped marginally by 2.52 per cent.
