UK-based Vodafone Group has cleared dues of around Rs 11,650 crore or about 109 million pound that it raised against shares of Vodafone Idea, according to a regulatory filing.
Vodafone Group had pledged almost the entire stake in VIL to raise the debt.
The pledge was created in favour of HSBC Corporate Trustee Company (UK) for the debt raised by Mauritius and India-based entities of Vodafone Group.
"On 27 December 2024, HSBC Corporate Trustee Company (UK) Limited acting as the security trustee for the lenders has released the pledges pursuant to repayment of the outstanding dues owed to the lenders by the Vodafone Promoter Shareholders.
"Consequently, the indirect encumbrance on 15,720,826,860 equity shares of the target company held by the Vodafone Promoter Shareholders representing 22.56 per cent of the equity share capital of the target company on a fully diluted basis has been released," the filing said.
"Consequently, the indirect encumbrance on 15,720,826,860 equity shares o

Vodafone

The country's private telecom operators face twin challenges on investment recovery in the New Year  customers leaving their network after tariff hikes and satellite players mainly Elon Musk's Starlink eyeing a chunk of their bread and butter data business.
Private operators have invested around Rs 70,000 crore in telecom infrastructure and radiowave assets this year to expand the coverage of next-generation 5G services which is one of the main highlights of 2024 for the sector.
To recover investments and protect margins, private telcos resorted to tariff hikes in mid-year but that move backfired.
Around 2 crore subscribers dropped their connections. Reliance Jio, Bharti Airtel and Vodafone Idea jointly lost 2.6 crore customers due to a 10-26 per cent price hike.
Around 68 customers switched to state-run player BSNL which refrained from price hike. The loss-making PSU still offers generation-old 3G service and is on the path of rolling out 4G network across the country.
Despite ..

telecom

Russian President Vladimir Putin on Saturday apologised to his Azerbaijani counterpart for what he called a tragic incident following the crash of an Azerbaijani airliner in Kazakhstan that killed 38 people.
The plane was flying on Wednesday from Azerbaijan's capital of Baku to Grozny, the regional capital of the Russian republic of Chechnya, when it turned toward Kazakhstan and crashed while making an attempt to land. There were 29 survivors.
In an official statement Saturday, the Kremlin said air defence systems were firing near Grozny on Wednesday due to a Ukrainian drone strike, but stopped short of saying one of these hit the plane.
On Friday, a US official and an Azerbaijani minister made separate statements blaming the crash on an external weapon.

Vladimir Putin, Putin

The much-awaited teaser of Salman Khan's upcoming movie, Sikandar, is set to release on his birthday, on December 27

salman khan, salman

The Jal Shakti ministry has set its sights on 2025 to achieve the ambitious targets of the Jal Jeevan Mission (JJM) and Swachh Bharat Mission-Gramin (SBM-G) after falling short of the 2024 deadline to provide tap water connections to all rural households.
The ministry also aims to ensure universal Open Defecation Free (ODF) Plus status for villages while advancing ecological restoration under the Namami Gange Programme.
Over 15.37 crore rural households out of a total of 19.36 crore have been equipped with tap water connections under the Jal Jeevan Mission. However, around four crore households remain uncovered.
Jal Shakti Minister C R Paatil expressed optimism about achieving full coverage, emphasising his ministry's continuous coordination with lagging states and Union territories.
"All the four crore connections are at some level of completion, and though it is a state subject, we have urged all states and Union territories to accelerate their efforts to ensure 100 per cent ...

CR Paatil, Jal Shakti Minister

ICAI CA Final Result November 2024 result has been released today, December 26. Candidates should achieve a minimum of 40% in each subject and a total of 50% overall to clear the subject

ICAI India

From the 1991 economic crisis to his critique of demonetisation, former PM Manmohan Singh's legacy is marked by his quiet confidence, intellectual depth, and transformative vision for India

Manmohan Singh

From rate rationalisation to cess management and expanding the GST base, India's evolving tax regime faces critical design and compliance challenges requiring balanced reforms

In his annual letter to employees, he highlighted conglomerate's achievements for the year

Tata, TCS, N Chandrasekharan, Rajesh Gopinath

Dalal Street had a roller coaster ride in 2024 from shattering record after record to facing heavy correction off-late but equity markets still rewarded investors with positive returns, driven by a surge in domestic fund flows and a resilient macro landscape.
The first half of the year saw robust corporate earnings, a surge in domestic flows, and a resilient macro landscape, driving the Nifty to an all-time high of 26,277.35 in September 2024, according to Motilal Oswal Wealth Management.
"In the last two months, the market has corrected from its all-time high. This correction marked the third major decline since the COVID-19 pandemic in 2020, with unprecedented selling by Foreign Institutional Investors (FIIs) due to a combination of domestic and global factors," it said in a note.
As of December 27, the BSE benchmark Sensex has gained 6,458.81 points or 8.94 per cent while the NSE Nifty climbed 2,082 points or 9.58 per cent. The year was marked by significant events, with the Indi

market

Delhi woke up to cloudy skies with scanty to no rainfall in parts of the National Capital Region (NCR) in the early hours of Sunday (December 29)

Winter,IMD Weather Alert

Tamil Nadu made sincere efforts in 2024 to realise its USD 1 trillion economy dream by 2030 as the ruling DMK government secured some big ticket investments and rolled out sector-specific policies, among others.
Measures regarding ease of doing business were also announced by the State government. The DMK government conducted its maiden Global Investors Meet (GIM) in 2024.
The year 2024 also witnessed the changing of hands at one of the city's iconic cement company, The India Cements Ltd. Billionaire Kumar Mangalam Birla promoted UltraTech Cement announced the acquisition of the decades old, city-headquartered company, promoted by noted industrialist N Srinivasan.
The GIM in January fetched the government Rs 6.64 lakh crore investment commitments by several companies that would generate 26 lakh new jobs in the state.
Some of the big ticket investments include Rs 16,000 crore by Vietnam-based VinFast to establish a manufacturing facility in southern Tuticorin district that would ...

MK Stalin, Stalin

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Stock markets to end 2024 with positive returns despite roller coaster ride

Delhi's air gets better after rainfall as temperature drops in North India

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Vodafone Group clears about Rs 11,650 cr dues raised against VIL shares

Telcos face twin challenges on tariffs, upcoming satellite services front

Putin apologises to Azerbaijani counterpart for tragic plane crash incident

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