New Delhi: There seems to be no end to the 2G battle any time soon as foreign investors hit by the cancellation of licences have decided to move the court to protect their interests. Three of the four foreign companies, affected by the Supreme Court order, have made it clear that they are not going down without a fight. The clearest statement came from Russia's Sistema, which said, "to safeguard...
08:34 AM, Feb 06, 2012
Oslo: Norway's Telenor will write down 4.2 billion crowns related to its Indian operations after a court there ordered its licences revoked, in a move analysts said was long overdue and had been expected by investors. Thursday's order by the Supreme Court to revoke 122 licences issued under a scandal-tainted 2008 sale forced Telenor to do what markets had already priced in given weak prospects at its Indian unit, which...
12:14 AM, Feb 04, 2012
New Delhi: Norwegian telecommunications company Telenor on Friday came out strongly against the Supreme Court ruling ordering all 2G licenses to be scrapped saying that the order was a "very serious attack" on the firm's investments. "The Supreme Court ruling is a very serious attack on the firm's investments. Quitting the Indian market now is an option being considered," a statement by the company read. It added, "(The firm) may...
08:42 AM, Feb 03, 2012
Oslo: Norwegian telecom firm Telenor could quit India now after the Supreme Court revoked its mobile licences and not wait for new market rules to be introduced, the company's chief executive told. The Supreme Court on Thursday revoked 122 telecoms licences issued under a scandal-tainted 2008 sale, including 22 licences Telenor holds via Uninor, a joint venture with real estate firm Unitech. Affected licence holders can operate for four months,...
11:50 PM, Feb 02, 2012
A CBI court rejected the bail pleas of Reliance executives Gautam Doshi, Hari Nair and Sanjay Pipara along with Unitech's Sanjay Chandra and DB group's Vinod Goenka. ...
07:40 PM, Apr 20, 2011
New Delhi: The Enforcement Directorate on Saturday filed a chargesheet against telecom firms for violating the Foreign Exchange Management Act (FEMA) to the tune of Rs 4,300 crore in the 2G spectrum scam case. In the chargesheet filed in a Delhi court the Enforcement Directorate has named Swan Telecom, Loop Mobile and S Tel. The Enforcement Directorate suspects breach of FEMA by Virgin Mobile, a Tata joint venture and is...
04:39 PM, Apr 09, 2011
Mobile towers along the border district of Barmer allow users to talk using Pakistani networks on Indian soil. ...
07:52 AM, Jul 22, 2010
If India's cellular revolution is a boon to consumers, it has become a nightmare for operators. ...
07:36 PM, Jun 30, 2010
The company said it would charge 29 paise per minute for local calls. ...
02:35 PM, Dec 03, 2009
Unitech Wireless has plans to launch its services next year. ...
03:24 PM, Oct 29, 2008
