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

Accused 37-year-old Gnanasekaran had been arrested in 2011 on charges of sexually assaulting another woman on the same campus

Chennai: Members of the Students' Federation of India (SFI) stage a protest against the alleged sexual harassment of a girl student of Anna University that happened outside the university, in Chennai, Wednesday, Dec,25. 2024. (Photo: PTI)

Members of the Students' Federation of India (SFI) stage a protest against the alleged sexual harassment of a girl student of Anna University

Priced at Rs 15,499 onwards, the Vivo Y29 5G smartphone is powered by the MediaTek Dimensity 6300 chip

Vivo Y29 5G

Krishan Kumar Aurora, chairman emeritus of Pharmed Limited and BioPlus Group, passed away on December 23 at 88. He began his career in 1961 with Smith Kline & French, rising to VP for Southeast Asia

Krishan Kumar Aurora

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

India's exports to its trade agreement partner Australia rose 64.4 per cent year-on-year to USD 643.7 million in November on account of healthy growth in sectors such as textiles, chemicals and agricultural products, according to the commerce ministry data.
However, the country's merchandise exports recorded a decline of 5.21 per cent year-on-year to USD 5.56 billion, the preliminary data showed.
India and Australia implemented an interim trade pact -- Economic Cooperation and Trade Agreement (ECTA) -- on December 29, 2022 and are now in negotiations to widen the scope of the pact.
On the completion of two years of ECTA, Commerce and Industry Minister Piyush Goyal said the agreement has brought with it increased market access for Indian exporters, expanded opportunities for MSMEs and farmers, and generated several employment avenues.
It has also enabled growth in exports by 14 per cent in 2023-24; notable boost in IT/ITeS, business and travel services; and port-study work and work 

export import trade

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

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

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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India's exports to Australia up 64.4% in Nov: Commerce ministry data

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

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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