Spot-Fixing Scandal
BCCI chief's son-in-law arrested
Mumbai Police apprehended Gurunath Meiyappan, a key official of the Indian Premier League's (IPL) Chennai franchise, late on Friday in connection with a spot-fixing scandal that has also led to the arrest of three cricketers. Full Article
REUTERS SHOWCASE
Revenge of Markets
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Court halts airwave surcharge demand on Idea Cellular
Sun rises over the telecommunication towers in New Delhi December 22, 2007.
Credit: Reuters/B Mathur/Files
MUMBAI |
MUMBAI (Reuters) - The Bombay High Court has asked the government to not take any coercive action against Idea Cellular Ltd (IDEA.NS) until March 1 on a demand to pay surcharges on airwaves, the mobile phone operator said on Thursday.
Idea, the country's No.3 mobile phone carrier by revenue, had appealed the order after the telecommunications ministry sent notices to carriers asking them to pay the surcharges.
The government is imposing the surcharges totalling more than $4 billion on long-established carriers including Bharti Airtel Ltd (BRTI.NS) and Vodafone Group Plc's (VOD.L) local unit, after an overhaul in the airwave sale process.
But carriers have challenged the move saying it violates the conditions of their licence agreements with the government.
(Reporting by Aradhana Aravindan; Editing by Gopakumar Warrier)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters