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 Delhi High Court has sought Patanjali Ayurved's stand on a lawsuit by Dabur over advertisements allegedly disparaging its product Chyawanprash.
On December 24, Justice Mini Pushkarna issued summons on the lawsuit to the defendants -- Patanjali Ayurved and Patanjali Foods Ltd -- for a reply in the matter.
"Accordingly, let the plaint be registered as suit. Issue summons.. Let the written statement be filed by the defendants within thirty days from today," the order said.
Dabur alleged that while promoting Patanjali Special Chyawanprash, fallacious and deliberate imputations were made, which defamed its product Dabur Chyawanprash -- a market leader with a share of more than 60 per cent.
The court also issued notice on an application seeking an interim relief and posted the hearing on January 30.
The plea said in the advertisements, the defendants have claimed only Patanjali Special Chyawanprash was the "original" and therefore "special" besides being "shreshtham/sarv-shreshth" o

Patanjali

Shares of One Mobikwik Systems hit new high of Rs 698.30, surging 15% on the NSE in Thursday's intra-day, and rallied 43 per cent in three trading days.

Sensex, Nifty, stock brokers

Term insurance policies are a must for young professionals who have dependants and looking to insure their financial future

Term Insurance Policy

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

The year 2024 in Jharkhand unfolded like a gripping political drama, a narrative filled with suspense, unexpected twists, and electrifying comebacks.
The year began like a Bollywood thriller with Chief Minister Hemant Soren's mysterious disappearance from Delhi sparking widespread speculations.
As the entire nation was watching the drama, Hemant, who was summoned by the Enforcement Directorate for questioning in a money-laundering case linked to an alleged land scam, appeared in his official residence in Ranchi on January 30, having made a 1,250 km road journey, leaving everyone astounded by his sudden return.
This was only the beginning of the year's political spectacle. Hemant was arrested shortly after resigning as chief minister on January 31 at Raj Bhavan.
This prompted JMM to elect Champai Soren, a loyal aide of JMM supremo Shibu Soren, who earned the sobriquet 'Jharkhand's Tiger' for his contribution to the long fight for the creation of a separate state in the 1990s, as par

Hemant Soren, Hemant

The National Green Tribunal has asked a petitioner to approach the Delhi Pollution Control Committee or the mining department regarding allegations of illegal instream and riverbed sand mining from the Yamuna in north Delhi.
The tribunal gave the order to enable the committee or department to ascertain the extent of the illegal activity.
The green body was hearing a petition by the Jagatpur village chief, or 'pradhan', who alleged that the sand mafia was illegally extracting huge quantities of the sand in the area.
The petition also alleged that a bund (check dam) created near Jagatpur and Burari villages in Delhi had developed cracks because of unauthorised activities.
In an order dated December 24, a bench of NGT Chairperson Justice Prakash Shrivastava and expert member A Senthil Vel said that the complaint first required to be looked into by the DPCC or the mining department to find the "reality and extent" of the illegal mining.
"Hence, we dispose of the original application (

National green tribunal, NGT

Overseas Indians showed great enthusiasm in registering as electors, with nearly 1.2 lakh enrolling in the voter list, but a minuscule turned up to exercise their franchise in the Lok Sabha elections this year.
According to the data released by the Election Commission, as many as 1,19,374 registered as overseas electors in 2024, with Kerala witnessing the highest registrations at 89,839. In 2019, as many as 99,844 had registered as overseas electors.
The poll authority said only 2,958 overseas electors flew down to India to participate in the largest democratic exercise in the world. Of these, an overwhelming 2,670 were from Kerala alone.
Several large states such as Karnataka, Uttar Pradesh, and Tamil Nadu saw zero turnout of overseas electors.
Gujarat, Prime Minister Narendra Modi's home state, saw only two out of 885 overseas electors casting their votes in the Lok Sabha elections.
The same was the story in Maharashtra, where only 17 of the 5,097 NRI electors voted.
Despite an

ECI, election commission of india, election commission

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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Jharkhand 2024: A year of political thrills, twists, and stunning comebacks

Illegal mining: NGT asks applicant to approach DPCC, mining dept first

Overseas Indian voters show poor participation in 2024 LS polls: EC data

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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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