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

A plane with malfunctioning landing gear veered off the runway, hit a fence and caught fire Sunday at an airport in southern South Korea, killing at least 28 people, according to the emergency office and local media.
The emergency office said the fire was almost put out and rescue officials were trying to remove passengers from the Jeju Air passenger plane at the airport in the southern city of Muan. It said the plane with about 180 people was returning from Bangkok.
South Korean media outlets including Yonhap news agency reported that at least 28 people had died in the fire. The Muan Fire Station said it couldn't immediately confirm the casualty reports. It said emergency workers pulled out at least two passengers.
Yonhap reported the plane veered off the runway and collided with a fence. Emergency officials said they were examining the exact cause of the fire.
Local TV stations aired footage showing thick pillows of black smoke billowing from the plane engulfed with flame.
The .

Flight, plane, Airplane

TTP-linked social media accounts claim all their commanders, including the media cell head, are alive and unharmed, refuting Pakistani security officials' assertions

Taliban

RedTape bonus share news: The company proposed to issue Bonus Shares to its equity shareholders in the proportion of 3:1

market, markets, stock market, stock, stocks rise, stock rally

Bank said it was still on track to hit profit target of 550 billion roubles in 2024 despite a significant depreciation in the value of many of its assets in November as a result of monetary tightening

Bank, Capital

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 upcoming Maha Kumbh will feature unprecedented security measures with the deployment of drones capable of monitoring 100 metres underwater and 120 metres above ground, officials said.
More than 45 crore pilgrims are expected to participate in the grand gathering.
In a first for Uttar Pradesh, underwater drones will be deployed in the Sangam area while tethered drones will make a debut in the skies during one of the largest religious congregations on the planet between January 13 and February 26, 2025.
The anti-drone system, first deployed during the consecration ceremony at the Ram Temple in Ayodhya this year, will also be deployed during the Maha Kumbh.
UP government earlier last week said a detailed security apparatus has been put in place to ensure the safety of every individual during the Sangam Snan (bathing at the confluence).
The underwater drones, expected to provide round-the-clock surveillance, can function effectively in low-light conditions.
With the ability to op

Kumbh

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

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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Drones to secure Maha Kumbh 2025: From 100m underwater to 120m in air

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

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

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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

All but 2 feared dead on plane carrying 181 as it crashes in South Korea

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