The $14 billion Swiss major TE Connectivity, manufacturers of connectors for electric, electronic and internet systems, is scouting for acquisitions in India. It is looking to buy out medium sized companies providing connectivity solutions for industrial automation, solar energy and railway sectors, in order to expand its India business. Manu P Toms reports.
Communications and IT minister Kapil Sibal has sought PM Manmohan Singh's intervention to revive loss-making PSUs - Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL).
Manoj Gairola reports.
That sinking feeling
Foreign Direct Investment in India's telecom sector has plunged to $93 million in the April-January period on account of global economic slowdown and difficult policy environment within the country.
Idea Cellular Ltd, the country's third-largest mobile carrier by revenue, and one of its subsidiaries have been issued with tax demands totalling
Rs. 39 billion ($710 million) by authorities, media reported today.
IAMAI report projects sector will hit Rs. 2,938 cr in India by March 2014, up from Rs. 2,260 cr in 2013.
The telecom ministry has asked Vodafone Group Plc's local unit and Idea Cellular to stop 3G services outside their licensed zones and imposed penalty on both carriers, a senior government official said.
Idea Cellular Ltd, India's third-largest cellular carrier by revenue, said the company and a unit had received tax demands from authorities over a restructuring exercise approved by courts more than three years ago.
The Delhi high court today set aside its single judge order which allowed Bharti Airtel, one of the largest telecom operators, to continue providing 3G intra-circle roaming facilities with other service providers.
Telecom minister Kapil Sibal is learnt to have approved a recommendation by two internal committees of the Department of Telecom (DoT) for imposing a fine of about Rs. 104 crore on Vodafone for allegedly violating the licence conditions on routing of calls.
The US has started accepting petition for the much sought H-1B work visas, amidst fear from industry experts and officials that the Congressional mandated quota of 65,000 might get filled up in the first week itself.
Bharti Cellular Limited CMD Sunil Bharti Mittal today approached the Supreme Court challenging the March 19 order of the special 2G court summoning him as an accused in a corruption case related to allocation of additional spectrum during the NDA regime in 2002.
Vodafone India Ltd (VIL) on Monday claimed it is not governed by the new telecom policy (NTP 2012) and its licences along with spectrum should be extended without going through the bidding process. HT reports.
The Income-Tax department has served a
Rs. 2,000-crore demand notice on Finnish cellphone giant Nokia for alleged evasion of taxes in its business transactions in the country, bringing into renewed focus tax tussles between Indian authorities and multinational corporations.
HT reports.
Not a flash in the pan
The government has rejected a request by a unit of Vodafone Group Plc's to extend its mobile phone licenses in three key service areas, the operator said, escalating a feud between carriers and the government in the world's second-biggest mobile phone market.
Federal authorities are examining Microsoft’s involvement with companies and individuals accused of paying bribes to overseas government officials for business, said a person briefed on the inquiry.