On September 28, 2021, there was a media report that Promoters may invest Rs 10,000 crore in Vodafone Idea (VIL). The report quoted the source of information to be the government (Department of Telecommunication). However, on September 29, 2021, the Company denied that there is any such proposal under consideration by the board. Key points … Read more
Govt has just announced the much needed relief for the telecom sector. Click here for the key announcements Telecom industry in general has been very appreciative of the announced measures. Sunil Bharti Mittal of Airtel in his usual style has been more expressive than the competition and has taken the opportunity to call for truce … Read more
Cash strapped Indian telecom sector was looking at the govt for long and govt abides… The much anticipated reforms are announced. Broadly they provide deferment of the immediate regulatory payments and a cleaner future process to operate. Key points – 4 year moratorium on all spectrum and Adjusted Gross Revenue (AGR) dues. However, interest would … Read more
SpiceJet confirmed to have received shareholders’ approval to transfer its cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 crore. Key points to note – Transfer of business is to a wholly owned subsidiary without any cash consideration. SLP will issues shares to … Read more