Economy world over is in downtrend mode due to Made in China Covid 19.
Tomorrow Hon'able Supreme court will decide case on AGR balance payments by Telecom companies like Vodafone Idea-Airtel-Tata Tele and others including PSUs.
Now retail investors are having many questions in their heads after analysing events over the past one year in telecom sector.
1.Is Reliance Jio playing dirty games thru GOI and DOT to get its rivals screwed.?
2.Will Supreme court allow deferred payment method for payment of balance AGR dues as if proposed by DOT.
3.Will it show vindictive attitude against Vodafone Idea.
4.Will Govt do any thing to save Vodafone Idea and other telecom companies to avoid ripple effect on Indian banking system and its effect on future flow of FDI in India.
5.Now that Reliance is getting screwed in its Oil business due to sharp fall in crude prices world over will govt oblige it by allowing change in Floor rates of tariff plans which will eventually help other telecom companies too and de-stress the telecom sector in coming years.
6.Why Competition commision is sleeping over the matter as it has to ensure that monopoly or oligopoly should be curbed in any sector for over all public benefit.In case SC kills Vodafone then CCI should also be closed down as it is serving no fruitful purpose to justify its existence.Let only GOI favourable business house like Ambanis and Adanis (from Gujarat) run the country.
Below is an article published in ET on Sep 18 2019 as to how SC was responsible for economic slow down
by our Eminent Senior Lawyer Mr. Harish Salve
Supreme Court responsible for current slowdown in India: Senior lawyer Harish Salve
Salve said the apex court knocked out billions of dollars of foreign investment with a stroke of the pen with its judgement on 2G and coal allocation cases.
ET Online|
Last Updated: Sep 18, 2019, 09.22 AM IST
NEW DELHI: Eminent lawyer Harish Salve has said that the Supreme Court is to be squarely blamed for the current economic slowdown. In an interview to a news website, Salve has said that the slowdown began with the top court’s judgment in the 2G spectrum case in 2012.
Salve said the apex court knocked out billions of dollars of foreign investment with a stroke of the pen with its judgement on 2G and coal allocation cases. The Supreme Court in 2012 had cancelled 122 spectrum licences
licences granted to eight companies. In 2014, the court also struck down all but four of the 218 coal block allocations from 1993 to 2011.
Salve said that had a very bad impact on foreign investors. "I can understand holding people responsible for the wrong distribution of licenses in 2G… Blanket cancellation of licenses where foreigners are investing… see when a foreigner invested it was your rule which said he must have an Indian partner," he said.
"The foreigner did not know how the Indian partner got a license. Foreigners invested billions of dollars, and with one stroke of the pen, the Supreme Court knocked all of them out. That’s when the decline of the economy began," he added.
Giving an example of coal, he said Indian coal mines are lying closed, and we are importing coal because of court's intervention. "You cancelled coal mines by one stroke of the pen, without examining the merits of every case. Much genuine foreign investment in the coal industry went flat. Then what happened? Indonesian coal and other world coal prices softened up. It became cheaper to import. A few million people are without jobs in India. Indian coal mines are lying closed, and we are importing coal. That is putting pressure on the economy."
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