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

India's luxury car market sees rapid growth, with over 50,000 units expected to be sold in 2025, supported by rising wealth, new model launches, and a thriving affluent class

A BMW i7 electric sedan on display at a BMW AG showroom.  Photographer: Krisztian Bocsi/Bloomberg

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

Israel and Hamas accused each other of complicating ceasefire efforts on Wednesday, as the two sides inch closer to a deal that could wind down the 14-month war in Gaza.
The two sides appear closer than they have been in months to reaching an agreement that would bring home dozens of hostages being held in Gaza. However, talks have come close before, only to collapse.
Although Israel and Hamas have expressed optimism that progress was being made toward a deal, sticking points remain over the exchange of hostages for Palestinian prisoners and the withdrawal of Israeli troops from Gaza, people involved in the talks say.
On Wednesday, Hamas accused Israel of introducing new conditions related to the withdrawal from Gaza, the prisoners and the return of displaced people, which it said was delaying the deal.
Israel's government accused Hamas of reneging on reneging on understandings that have already been reached. Still, both sides said discussions are ongoing.
Israel's negotiating tea

Israeli forces travel towards Gaza. The war against Hamas that erupted more than four months ago is stretching public finances by pushing the budget deep into the red.  Photographer: Kobi Wolf/Bloomberg

Chawla will take over from Economic Affairs Secretary Ajay Seth, who is holding the additional charge of Revenue Secretary

Arunish Chawla

Over 58 lakh property cards providing 'Record of Rights' will be issued for owners in over 50,000 villages across 12 states and union territories on Friday at a virtual event which will be addressed by Prime Minister Narendra Modi, officials of Panchayati Raj Ministry said on Wednesday.
At least 13 union ministers will meanwhile address events in different states where the property cards will be distributed, officials said.
SVAMITVA Scheme, which was launched in 2020, aims at providing a "Record of Rights" to every property owner in the Village Abadi area.
Officials from the Panchayati Raj Ministry said the virtual event, which will be addressed by the Prime Minister, property cards will be issued to 58 lakh property owners in approximately 50,000 villages across 10 states - Chhattisgarh, Gujarat, Himachal Pradesh, Madhya Pradesh, Maharashtra, Mizoram, Odisha, Punjab, Rajasthan, Uttar Pradesh and two Union Territories-  Jammu-Kashmir and Ladakh.
Meanwhile, several union ministers w

Modi, Narendra Modi

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 fourth part of the series assesses what it will take to encourage domestic manufacturing, while also being an alternative to China

The India story: Progress in manufacturing sector but key challenges remain

ChartThe India story: Progress in manufacturing sector but key challenges remain

BJP president JP Nadda on Saturday said the Centre had allocated space for Manmohan Singh's memorial and informed his family about it as he accused the Congress of indulging in "cheap politics" over the former prime minister's cremation.
The BJP chief's reaction came after the Congress accused the Centre of insulting Singh, the country's first Sikh prime minister, by performing his last rites at Nigambodh Ghat instead of a designated spot that could be turned into his memorial.
Leader of Opposition in the Lok Sabha Rahul Gandhi said the BJP-led Centre had "totally insulted" Singh, a great son of Mother India and the first prime minister from the Sikh community, by performing his last rites at Nigambodh Ghat.
Reacting sharply, Nadda said, "It's very unfortunate that former Congress president Rahul Gandhi and incumbent Congress president Mallikarjun Kharge are not refraining from playing politics even over the former prime minister's sad demise."
"No amount of condemnation is enough 

JP Nadda, Nadda

Congress had demanded a funeral in a place where a memorial to Singh could be built. However, the Centre said land for a memorial would be earmarked in the next few days

Sambit Patra, sambit

Live entertainment and concerts saw a major boom in India this year with tickets selling out within minutes and concert-goers willing to cough up exorbitant money to see their favourite artistes like Ed Sheeran, Diljit Dosanjh and Dua Lipa up close.
Young audiences are driving the demand for such events and experts believe it is a new dawn for live entertainment in India.
A year-end report by BookMyShow revealed that 30,687 live events were organised across 319 cities, noting an 18 per cent increase in live entertainment consumption compared to the previous year.
According to a spokesperson of Zomato Live, the online ticketing arm of food and grocery delivery firm Zomato, India is becoming a hotspot for music concerts.
India's growing economy and passionate fanbase have made it an attractive destination for international tours. For music enthusiasts, attending a concert in India is often more convenient and cost-effective than travelling abroad.
"This shift in consumer behaviour h

Arijit Singh, Ed Sheeran collab in London

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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Govt marked space for Dr Singh's memorial, Cong doing cheap politics: Nadda

Cong damaged dignity of Dr Singh, now playing politics in his name: BJP

2024 hits the right notes: Ed Sheeran, Diljit, Dua Lipa lead concert craze

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

Luxury on wheels: Over 6 high-end cars sold every hour in India in 2024

Putin apologises to Azerbaijani counterpart for tragic plane crash incident

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