Top headlines: Reliance backs e-commerce rules; Airtel moves SC on dues

Business Standard brings the top headlines of the day

Reliance Industries has endorsed the government view that a marketplace entity must not have its related parties or associated enterprises as sellers on the platform. Bharti Airtel is the second telco to move the Supreme Court with a review petition on the adjusted gross revenue matter. Here is more on those stories in our top headlines this morning. 

Reliance backs govt on proposed e-commerce rules as Tatas oppose

E-commerce policy, which is typically a foreign-versus-Indian battleground, may turn out to be a pitch for a domestic tussle as well on the issue of doing business with related parties. Reliance Industries has endorsed the government view that a marketplace entity must not have its related parties or associated enterprises as sellers on the platform. Read more...

Paid licence fee dues for first quarter of FY22, says Vodafone Idea

Vodafone Idea Ltd (VIL) on Thursday said it has paid licence fee dues for the first quarter of 2021-22. The comment came amid a report that the troubled telco -- which is struggling to stay afloat -- fell Rs 150 crore short on payment of licence fee for the June quarter. Read more...

End of Bezos and Murthy's e-commerce JV may impact Amazon's business

Last year in January at Amazon’s flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. “I will try to finish it in five minutes, because I am not used to delays,” said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. Read more...

India Inc earnings losing momentum as demand recovery falters, shows Q1

The strong surge in India Inc’s profits seen after the first wave of Covid-19 is now losing momentum as demand recovery falters. The combined net profit of India’s top listed companies was down 12.4 per cent in Q1FY22 on a quarter-on-quarter (Q-o-Q) basis while net sales declined 7.8 per cent Q-o-Q. Read more...

Bharti Airtel moves Supreme Court with review petition in AGR case

Bharti Airtel is the second telco to move the Supreme Court with a review petition on the adjusted gross revenue (AGR) matter. The company has sought correction of arithmetical errors in calculations linked to AGR. Earlier this month, debt-laden Vodafone Idea had moved the top court with a similar plea seeking a review of SC’s July 23 order. The court had dismissed the petitions of telecom firms in July. Read more...