BSNL INSOLVENCY CASE
NCLT reserves order in BSNL insolvency case filed by Digispice
National Company Law Tribunal reserves order in insolvency petition against Bharat Sanchar Nigam Limited filed by Digispice Technologies Ltd. Digispice claims BSNL refused to pay for content and consultancy services. BSNL disputes bill amount and existence of running account. Digispice initiated insolvency proceedings. Supreme Court allows insolvency proceedings against government companies.
Key features of the Telecommunication Bill, 2023
The bill empowers the government to suspend or prohibit use of telecom equipment from countries or a person as may be notified in case of national security. Telecom equipment needs to be procured from trusted sources only. To protect telecom consumers, the bill proposes that prior consent should be taken for receiving certain messages such as promotional, advertising, etc.
Insolvency pleas against GTL Infra, GTL Ltd dismissed
In the case of GTL Infra, the bench observed that the corporate debtor claims from various telcos would be sufficient to pay the debt of the lender. These include a ₹13,394 crore claim against Aircel entities, a separate appeal for recovery of ₹900 crore is pending, and it must recover dues from Tata Teleservices, ATC and BSNL aggregating to ₹421 crore, pending arbitration proceedings.
View: It’s in mutual interest of India and Vi to find a new solution
A perpetual challenge for lawmakers on economic policy has been that of balancing the role of the State with the interests of the free market. A sensible approach would be to weigh the immediate cost of such a bailout against benefits that will accrue from the merged entity, coupled with impact on investor sentiment and cost of further market regulations.
DoT still working on final calculation of pending AGR dues
According to sources, DoT has detected variation in accounting practices adopted by different circle offices.
Airtel, Voda Idea, Tata Teleservices likely to pay AGR dues on Monday: DoT source
The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom (DoT) of making only partial payment, as per their representatives.
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FM: working on issue of ED attaching assets of companies under IBC
Several companies, including BPSL, that are undergoing proceedings under the IBC are also facing investigations by the ED over alleged money laundering by their promoters. FM Sitharaman said the ministry is looking to resolve the issue sooner.
BSNL to approach NCLT this week against RCom to recover Rs 700 crore
BSNL has aready invoked bank guarantee of around Rs 100 crore submitted by RCom for default on payments.
Ramesh Damani on 2 unique themes that could ride to top of bull market
Bull run may have ended in bonds but is no way over in equities, says the fabled value investor.
need2know: 10 macro triggers that should matter for market today
Here's a look at the top macro triggers that may move market on Wednesday.
We support RCom-Aircel merger, but timely payments are a concern: Manoj Tirodkar,Chairman, GTL group
Aircel itself has had turbulent times along with the Indian telecom space and I admire Kaizad Heerjee (Aircel CEO) for their effective turnaround, Manoj Tirodkar said.
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