Airtel pays Rs 8,312 crore ahead of schedule for 5G spectrum dues
Bharti Airtel has paid Rs 8,312.4 crore to the Department of Telecommunications (DoT), settling 5G spectrum dues ahead of schedule to free up cash for future investments, the company said on Wednesday.
The telecom service provider acquired 19,867 MHz of spectrum in various bands worth Rs 43,084 crore in the recent auction of 5G spectrum. Read more
Akasa Air is well-capitalised, to add one aircraft every two weeks: CEO
New entrant Akasa Air is financially strong enough to place an aircraft order in the 18 next months that will be significantly larger than its first, its founder and CEO Vinay Dube said on Wednesday.
Rakesh Jhunjhunwala – who along with his family held around a 45 per cent stake in Akasa Air – passed away on Sunday morning. Read more
Union Cabinet enhances ECLGS corpus by Rs 50,000 crore to Rs 5 trn
The Union Cabinet on Wednesday approved raising the outlay of the Emergency Credit Line Guarantee Scheme (ECGLS) by Rs 50,000 crore to Rs 5 lakh crore and the additional amount will be earmarked for enterprises in the hospitality and related sectors.
In the 2022-23 Union Budget, there was a proposal for raising the limit of ECLGS from Rs 4.5 lakh to Rs 5 lakh crore to help hospitality sector hit by the coronavirus pandemic. Read more
Palaniswami’s appointment as AIADMK General Secretary not valid: Madras HC
The Madras High Court on Wednesday ordered status quo as of June 23 over the conduct of the AIADMK’s July 11 General Council, in effect rendering the meet, which among others picked Edappady K Palaniswami (EPS) as its chief, invalid.
Though the HC ruling was being seen as a setback to the former Tamil Nadu Chief Minister, EPS’ supporters insisted it was not so and informed that the next course of action would be decided after going through the detailed order. Read more
