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Economic Times | 01 Sep, 2020 | 12.19PM IST
AGR Case LIVE Updates: SC clarifies again that no revaluation as regards AGR dues to be allowed
SC grants 10-year time to telcos like Vodafone Idea, Bharti Airtel, Tata Teleservices for paying Adjusted Gross Revenue-related dues.
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Delhi High Court's 5 benches, on a rotational basis, begin holding physical courts from today
28 new cases push COVID-19 tally of Andamans to 3,132; death toll mounts to 46
Vodafone Idea cracks 18% as SC tells firm to pay AGR dues in 10 years against 15 years sought by the firm
Price as on 01 Sep, 2020 12:10 PM, Click on company names for their live prices.
Existing bank guarantee given to be kept alive and Managing Director to give the undertaking to comply with the schedule
- SC
Bharti Airtel rises while Vodafone Idea falls sharply after AGR Verdict
Price as on 01 Sep, 2020 11:56 AM, Click on company names for their live prices.
SC clarifies again that no revaluation as regards AGR dues to be allowed
In case of default on the payment of annual installments, interest would accrue, may also invite contempt of Court
The date fixed for annual installment is February 7
SC asks NCLT to decide whether the spectrum of insolvent telecom companies can be part of insolvency proceedings.
Justice Mishra: We agree that whether spectrum can be sold or not should be decided by NCLT at the first instance
Telecom companies to submit undertaking to pay AGR dues as per SC order
SC allows time till March 31, 2021 to pay the 10% of the dues, says that this period has been extended till March 31 due to COVID-19
Supreme Court allows a period of 10 years for the telecom companies to repay AGR dues
Questions that will be answered by Supreme Court
- Whether 20 Years period to repay AGR Dues will be given?
- Whether spectrum can be sold as part of IBC proceedings and the effect of spectrum sharing & licence trading agreements between Telcos?
AGR Verdict: Justice Arun Mishra joins for the judgment
Big day for Voda Idea and Airtel
The government has sought a 20-year time frame for telcos to pay back their balance AGR dues, while the two most affected telcos- Vodafone Idea (over Rs 50,400 crore balance dues) and Bharti Airtel (nearly Rs 26,000 crore balance) have sought 15 years. Vodafone Idea has warned it would be forced to shut shop if made to pay its dues at one go.
India's factory activity grows for first time in five months in August
But the bounce is unlikely to signal a quick turnaround in the Indian economy, which contracted at its steepest pace on record of 23.9% annually last quarter. It was expected to remain in recession this year, a Reuters poll showed on Friday.
Moratorium period is "capable of being extended"
SG Mehta has explained for clarity that the moratorium period is "capable of being extended" under the RBI circular
SC to continue hearing loan moratorium case tomorrow, Sept 2
Solicitor General Tushar Mehta appearing for Centre, submits to SC that the loan moratorium may be extendable for two years
AGR Dues Case: SC to address key issues
- Staggered Payment: DOT seeking 20 years, Bharti Airtel & Vodafone Idea seeking 15 years
- Can spectrum be transferred, assigned, sold under IBC
- Additional liabilities on Jio, Airtel for past dues of R Comm, Videocon, Aircel.
Voda Idea, Airtel gain ahead of SC verdict on AGR dues
Price as on 01 Sep, 2020 11:06 AM, Click on company names for their live prices.
Allahabad High Court drops NSA charges against Dr Kafil Khan, orders his immediate release
ICICI Bank cuts lending rates by 5 bps across all tenures
Can spectrum be sold under IBC proceedings? SC may answer today
A three-Judge Bench headed by Justice Arun Mishra will also answer whether spectrum can be sold under IBC proceedings, a question the Bench had raised during the hearings on the case.
AGR Dues Case: The Judgment is expected to be pronounced at 11.30 AM
SC to deliver its judgment on the timeframe to be allowed for the telcos to make staggered payment of AGR dues
Delhi High Court grants bail to Devangana Kalita in a Delhi riots case
There is chance of US-India 'mini trade deal' before presidential election: Top American diplomat
- There is a chance of a "mini trade deal" between the US and India even before the November 3 presidential election in the United States, a top American diplomat has said.
- India and the US are negotiating a deal to iron out differences on trade issues to boost economic ties.
Section of Ola, Uber drivers go on strike in Delhi-NCR
PM Modi pays last respects to Pranab Mukherjee
Delhi: Prime Minister Narendra Modi pays last respects to former President #PranabMukherjee at his residence, 10 Ra… https://t.co/37NSx0Yw4E
— ANI (@ANI) 1598935578000Lok Sabha Speaker Om Birla pays last respects to former President Pranab Mukherjee
Delhi: Lok Sabha Speaker Om Birla pays last respects to former President #PranabMukherjee at his residence, 10 Raja… https://t.co/GXgBvBiU6m
— ANI (@ANI) 1598934276000Rhea Chakraborty has not been summoned by Enforcement Directorate (ED) today for her statement
- Satish Maneshinde, Rhea Chakraborty's lawyer
Japan ruling party agrees to slimmed-down version of leadership vote
Final tribute
Delhi: Chief of Defence Staff (CDS) General Bipin Rawat, Army Chief General MM Naravane, Air Force Chief Air Chief… https://t.co/MNJtTYUtOA
— ANI (@ANI) 1598933536000Single-day spike of 69,921 new positive cases & 819 deaths reported in India, in the last 24 hours
- Tally 36,91,167
- 7,85,996 active cases
- 28,39,883 cured/discharged/migrated
- 65,288 deaths
Indian Army and Chinese Army to hold Brigade Commander level talks in Chushul/Moldo to discuss issues related to the situation on the southern bank of Pangong lake today
- Indian Army Sources (Reports ANI)
Nagpur Bench of Bombay High Court allows the conducting of JEE examination
The Court issues direction that those who are affected by flood and can't reach the exam centres may apply to the appropriate authority - National Testing Agency
The mortal remains of former President Pranab Mukherjee being taken to his residence at 10 Rajaji Marg
Delhi: The mortal remains of former President #PranabMukherjee being taken to his residence at 10 Rajaji Marg. He… https://t.co/KXTxrQeHiD
— ANI (@ANI) 1598931994000Climate change fuels sharp increase in glacier lakes
The volume of lakes formed as glaciers worldwide melt due to climate change has jumped by 50 percent in 30 years, according to a new study based on satellite data.
JEE Main in Chhattisgarh
Chhattisgarh: Candidates appearing in #JEEMain arrive at ICE centre in Raipur's Sarona, that has been designated as… https://t.co/hPwea0iVbg
— ANI (@ANI) 1598930437000Facebook lifts block on pro-Biden ad, citing 'enforcement error'
- A company spokesman cited an “enforcement error” and said Facebook was approving the ad, which showed clips of President Donald Trump threatening to end Obamacare and Democratic presidential candidate Joe Biden saying “c’mon man” in response.
- According to a screenshot of the rejection notice shared by Priorities USA strategist Josh Schwerin, Facebook had initially cited its policy against ads containing “shocking, sensational, inflammatory, or excessively violent content.”
RIL says Brookfield's tower deal completed
Media reports
A heartfelt tribute
Heartfelt tributes to Bharat Ratna #PranabMukherjee, former President of India. My SandArt at Puri beach in Odisha. https://t.co/O8ujEInG0w
— Sudarsan Pattnaik (@sudarsansand) 1598892153000JEE Main in the time of Coronavirus
Delhi: Candidates arrive at Arwachin Bharti Bhawan Sr Sec School in Vivek Vihar, designated as an examination centr… https://t.co/beYVCIMP1c
— ANI (@ANI) 1598927328000Defence Ministry signs Rs 2,580 Cr deal to procure Pinaka rocket launchers
All gear up for JEE Main
West Bengal: Candidates writing #JEEMain arrive at TCS Gitobitan in Kolkata, that has been designated as an exam ce… https://t.co/FHJa7bkRLo
— ANI (@ANI) 1598927916000Govt extends FY20 GST return filing date for composition dealers till Oct 31
- This is the second extension in as many months given by the government.
- The original deadline for filing the return was July 15, which was earlier extended till August 31.
Indus-Infratel to go ahead with merger; VIL to sell 11.15% Indus stake for Rs 4,000 Cr
- Vodafone Idea Ltd (VIL) has decided to cash out by selling its 11.15% stake in Indus Towers for roughly Rs 4,000 crore even as Bharti Infratel decided to go ahead with the closure of its mega towers merger with Indus.
- Bharti Infratel said the likely shareholding structure of the merged towers entity is based on “cash consideration chosen by VIL for its 11.15% shareholding in Indus -- based on an agreed formula – and on today’s calculation, the cash consideration comes to approximately Rs 4,000 crore”.
Flags at Rashtrapati Bhavan and Parliament fly at half-mast
Delhi: Flags at Rashtrapati Bhavan and Parliament fly at half-mast as 7-day State mourning is being observed in the… https://t.co/jAlu2zH0eX
— ANI (@ANI) 1598924205000Nagpur Bench of Bombay HC to take up for urgent hearing, the plea filed by a petitioner seeking postponement of JEE exams
Petitioner, in his petition, stated about inability of students residing in flood-affected areas, in reaching examination centres.
Japan's Suga to run in LDP leadership race, source says
Chief Cabinet Secretary Yoshihide Suga has indicated he intends to run for leadership of Japan’s ruling party, a source said on Monday, soon after a report emerged that he had won the backing of one of the party’s most powerful factions.
India-China tension in eastern Ladakh: Civilian traffic, phone network suspended
- The Srinagar-Leh highway was closed for civilian movement on Monday following fresh tensions between India and China in eastern Ladakh.
- Civilian traffic resumed later in the evening to facilitate those stranded in Sonamarg, Ganderbal, and Srinagar to reach their destination.
- Officials in Srinagar said that an Army convoy comprising around 300 vehicles were on the highway from Sonamarg, a hill station in Kashmir on the highway connecting Kashmir with Kargil.
JEE (Main) begins today amid stringent Covid precautions
- About 9.58 lakh aspirants have registered for the exam to be conducted from September 1-6 across 660 testing centres.
- While Odisha, Madhya Pradesh, Rajasthan, and Chhattisgarh govt have assured the aspirants free transportation, a group of IIT alumni and students have launched a portal to provide transport facility to exam centres for needy aspirants.
Bharti Infratel decides to proceed with Indus Tower merger, media reports
As per media reports, Vodafone may hold 28.2%, PEP 3.2%, total for Indus share swap 31.4% & Infratel shareholders 68.6% in merged company.
Facebook says will stop news sharing in Australia if new regulations become law
- Facebook Inc said it would block news publishers and people in Australia from sharing news on Facebook and Instagram if a proposal to force the U.S. tech giant to pay local media outlets for content becomes law.
- The Australian government said in July it would require tech giants Facebook and Alphabet Inc's Google to pay for news provided by media companies under a royalty-style system that is scheduled to become law this year.
Mainland China reports 10 new COVID-19 cases vs 17 a day earlier
Ghulam Nabi Azad and some of his group of 23 friends do not want Rahul Gandhi to emerge strong
- Shashidhar Reddy
AstraZeneca's vaccine has reached Phase 3 clinical trials in US: Trump
"I am pleased to announce that AstraZeneca's vaccine has reached Phase 3 clinical trials and has joined various vaccines that are very close to the end. In the United States, we are doing things that people thought were not possible," Trump said in a press conference.
Funeral of former President Pranab Mukherjee to be held today
China, India in close communication through diplomatic, military channels
- Chinese Foreign Ministry
