Friday, March 19, 2021
Delhi High Court backs Amazon plea, halts Future deal with Reliance :-ET By Shambhavi Anand & Rasul Bailay
The Delhi High Court stopped Future Group from going ahead with the sale of its retail assets to
Reliance
Retail, upholding Amazon’s argument that the Emergency Award of the Singapore International Arbitration Centre (SIAC) should be adhered to.The single-judge bench also asked why Future Group founder Kishore Biyani and others shouldn’t be sent to civil prison, imposed costs of Rs 20 lakh on Future Group and told the latter to approach the authorities to recall all approvals granted to the Future-Reliance deal.
The court held that Future Retail Ltd (FRL), Future Coupons Pvt Ltd (FCPL), Kishore Biyani and others were in violation of the October SIAC Emergency Award that had halted the Future-Reliance transaction until the arbitration was completed. The court was hearing Amazon's plea seeking a direction to order the enforcement of the SIAC ruling.
Future Group had announced in August last year that Reliance Retail Ventures Ltd (RRVL) would acquire its retail assets on a slump-sale basis for about Rs 25,000 crore. Amazon, which owns a 49% stake in Future Coupons, a Future Group holding company, objected to the deal.
Next Hearing in April
Amazon said Future Group had breached a contract that gave the ecommerce giant right of first refusal and barred a sale to entities including Reliance.
Future Group and Amazon didn’t respond to queries.
Lawyers for Future Group and Reliance Retail had argued that the SIAC doesn’t have jurisdiction and that the interim ruling wasn’t valid in India. However, justice JR Midha rejected the argument.
"The respondents have pleaded the interim order to be nullity without pleading the law on nullity; what are the essential ingredients of law on nullity and how the essential ingredients of the law on nullity are satisfied in the present case," read the court’s order. "At the outset, this court finds the submission to be vague and unsubstantiated."
The court also issued a show-cause notice to Biyani and others, asking why they should not be detained in civil prison and directed them to file affidavits detailing their assets. He also directed Biyani and others to be present before the court at the next hearing in April. The Rs 20 lakh costs are to be deposited with the Prime Minister’s Relief Fund, the judge said.
Thursday, March 18, 2021
Vodafone Idea adds users for 1st time in 15 months, gains 1.7 mln users in Jan According to data released by the Telecom Regulatory Authority of India (Trai) on Wednesday, top two telcos Reliance Jio and Bharti Airtel have added 2 million and 5.9 million wireless subscribers respectively. Airtel outpaced Jio for the sixth straight quarter, on user additions.
New Delhi: Struggling telco Vodafone Idea (Vi) added users for the first time in 15 months, gaining 1.7 million wireless subscribers in January, a month where Bharti Airtel continued to outpace rival Reliance Jio, according to data released by the Telecom Regulatory Authority of India (Trai).
Jio though continues to be the number one telco with a wireless base of 410.7 million wireless subscribers, followed by Airtel 344.6 million and Vi’s 286 million. The
The last time Vi showed a net gain in subscribers was in the month of October 2019, which was also the first time it showed a net addition since the merger in August 2018.
Analysts and industry experts say it is too early to judge whether Vi is witnessing a reversal in trend.
“The 1.7 million addition in subscribers in January is definitely a gain, however it may be also an outcome of the base effect of the previous month which reflected large declines,” said Gaurav Dixit, Associate Director, CARE Ratings. “We will have to analyse for a quarter or so to conclude that Vi is finally seeing some sustainable user addition”.
Vodafone Idea made net additions in the Haryana, Kerala, MP and UP(W) circles.
Another analyst said that Vodafone Idea hasn’t made any strategic changes to its tariff structure which could result in this net addition.
As per data, Jio continued to be the number one telco with a wireless base of 410.7 million wireless subscribers, followed by Airtel 344.6 million and Vi’s 286 million. The telcos’ reported numbers however differ from Trai’s due to the how the two sides account for active subscribers.
According to Trai, Bharti Airtel continued to be the leader in terms of active users with 97.44% or 335.8 million active users, while only 79.01% base of Jio was active with 324.5 million users, at the end of January 2021. Vi trailed behind with an active user base of 256.3 million users, which is 89.63% of its total base.
Total wireless subscribers increased from 1,153.77 million at the end of December, 2020 to 1,163.41 million at the end of January, 2021.
In the wireline category, Jio added the highest number of subscribers in the month of January, over 196,437, taking its wireline base to 2.95 million which is almost halfway to Bharti’s wireline base of 4.64 million. Bharti lost 18,545 wireline subscribers in January while the third ranked Vi lost 11,619 wireline subscribers.
Overall, the number of telephone subscribers in India increased from 1,173.83 million at the end of December, 2020 to 1,183.49 million at the end of January, 2021.
Wednesday, March 17, 2021
REMEMBERING A GREAT LADY AND A GREAT TEACHER-FIRST PRINCIPAL OF MY SCHOOL WHO SHAPED MY FUTURE AND TAUGHT ME TO BE ALWAYS ON THE TOP OF STUDIES AND EXTRACURRICULAR ACTIVITIES.SHE WILL ALWAYS REMAIN IN THE HEARTS OF ALL STUDENTS OF DBVM HIGH SCHOOL RAJPURA-Distt.PATIALA-PUNJAB-INDIA.MAY HER SOUL REST IN PEACE.
Monday, March 15, 2021
Sunday, March 14, 2021
LOVE YOUR "OWN BEAUTIFUL WIVES"
?Don’t shout at your wife when you are talking. It really hurts her.
?Do not share her love or affection with another woman. It is called Adultery.
?Never compare your wife to another woman. If the other woman was good for you, God would have given her to you.
?Be gentle and accommodating. She has sacrificed so much to be with you. It hurts her deeply when you are hash and irritating. Be tender.
?Hide nothing from her. You are now one and she’s your soulmate. Let there be no secret you are keeping from her.
?Do not make negative comment about her body. She risked her life and beauty to carry your babies. She is a living soul not just flesh and blood.
?Do not let her body determine her worth. Cherish and appreciate her even till old age.
?Never shout at her in the public and in private. If you have an issue to sort with her, do it in the privacy of your room.
?Thank and appreciate her for taking good care of you, the kids and the house. It is a great sacrifice she is making.
?All women cannot cook the same way; appreciate your wife’s food. It is not easy to cook three meals a day, 365 days a year for several years.
?Never place your siblings before her. She is your wife. She is one with you. She must come before your family.
?Make time to play with her and enjoy her company. Remember when you are dead, she’s gonna be by your grave but your friends may be too busy to attend your funeral.
?Never use money to manipulate or control her. All your money belongs to her. She is a joint heir with you of the grace of God.
?Do not expose her weakness. You will be exposing yourself too. Be a shield around her.
?Honor her parents and be kind to her siblings.
?Never cease to tell her how much you love her all the days of her life. Women are never tired of hearing that.
Clean water in all homes is Modi’s next big election play ;-By Archana Chaudhary, BloombergLast Updated: Mar 14, 2021, 07:25 PM IST
Prime Minister Narendra Modi’s popularity has endured over the years in part due to his focus on giving poorer Indians things like cooking gas, toilets and electricity. Now he wants every rural home to have water by the next national election in 2024.
The Rs 3.6 lakh crore program will put piped water in all of India’s 19.2 crore rural homes — more than all the houses in the US — over the next four years. That won’t be easy: Currently only 7 crore Indian households have piped water, or about 36% of the target.
“The mission is an acknowledgment that if we in India don’t fix our water availability this might become a limiting factor in our quest for faster socio-economic development,” Bharat Lal, who heads the Jal Jeevan Mission, a special division for piped and potable water in India’s Water Ministry, said in an interview in New Delhi. “Water is critical, the most important fundamental.”
Modi’s government has faced months of protests from farmers over a law they say will boost corporate influence over agriculture, a movement that has helped rally opposition forces who also accuse him of stoking sectarian tensions. Still, programs like the piped water plan help explain why the ruling Bharatiya Janata Party has steadily consolidated power across the country since 2014.
Access to water is becoming a more urgent political issue: The government’s planning body projects demand will be twice the available supply by 2030, leading to shortages for hundreds of millions of people that will hurt economic growth. The 2018 report said India was “suffering from the worst water crisis in its history and millions of lives and livelihoods are under threat.”
Depleting Resource
Modi’s program aims to supply at least 55 liters of potable water to each person per day by building new pipelines and refurbishing existing networks, Lal said. It plans to use groundwater in areas of large river basins and set up desalination plants in coastal areas, he added.
Currently, India is the world’s biggest extractor of groundwater — more than China and the US combined — accounting for almost a quarter of the total extracted globally, according to Water Aid. Groundwater levels in the country declined by 61% between 2007 and 2017, the government told parliament in Nov. 2019 citing data from an irrigation census.
“The plan will work if India manages to simultaneously strengthen water sources,” said Romit Sen, associate director at the Montpelier, Vermont-based Institute for Sustainable Communities. “We will need to fix the backend to ensure it doesn’t encourage exploitation.”
India's foreign exchange reserves surpass Russia's, become world’s fourth biggest Currently, in the International Monetary Fund table, China has the largest reserves, followed by Japan and Switzerland. MONEYCONTROL NEWS MARCH 14, 2021 / 07:29 PM IST
Representative Image.
The foreign exchange reserves of India surpassed Russia's and became the world's fourth largest, reported Bloomberg.
The foreign exchange reserves of both India and Russia have declined after months of rapid increase. However, India pulled ahead as Russian holdings declined at a faster rate in recent weeks and the Reserve Bank of India continued to hoard dollars to cushion the economy against any sudden outflows.
RBI remains net buyer of US dollar in December, buys $10.014 billion
On March 13, the RBI said the country's foreign currency holdings fell by $4.3 billion to $580.3 billion as of March 5, while edging out Russia’s $580.1 billion pile. Currently, in the International Monetary Fund table, China has the largest reserves, followed by Japan and Switzerland.
India now has enough reserves to cover roughly 18 months of imports. Experts say that this is due to the rare current-account surplus, rising foreign direct investment and inflows into the local stock market.
"India’s various reserves adequacy metrics have improved significantly, particularly in the last few years. The healthy FX reserves position should give enough comfort to the RBI for dealing with any potential external shock-driven capital-stop or outflows in the period ahead," Bloomberg quoted Deutsche Bank chief India economist Kaushik Das as saying.
In 2020, the RBI bought a net $88 billion in the spot forex market. This made the Indian rupee the worst performer among Asia’s major currencies.
Following this, RBI Governor Shaktikanta Das in the latest interaction had stressed the idea of emerging market central banks to build reserves to prevent any external shocks. The RBI even focused on further strengthening foreign exchange reserves.
moneycontrolnews
Saturday, March 13, 2021
CULTURE PROTECTION CAMPAIGN-A MUST READ BY EVERY INDIAN WHETHER LIVING IN INDIA OR ABROAD
Please read the whole thing
We already had a pots full of nectar... 🧐 Then why are we throwing that nectar to fill mud in them...? 🤔
* Just think about these...* 🧐👇🏻
If * Matrunavami * was there, So why was Mother's Day brought up?
If there was * Kaumudi Festival So why was Valentine's Day brought up?
If there was * Guru Purnima So why was teachers day brought up?
If there was * Dhanvantari Jayanti So why was doctors day brought up?
If there was * Vishwakarma Jayanti So why was Technology Day brought up?
If * Santaan Saptami * was, So why was Children's Day brought up?
If * Navratri * and * Kanya Bhoj * were there, So why was daughters day brought up?
If there is * Raksha Bandhan * then why is it Sisters Day?
If there is * Bhai-Duj * why is it Brothers Day?
* Amla Navami, Tulsi Viva * Hindus celebrating why do they need Environment Day?
not only this, * Narada Jayanti * is cosmic journalism day...
* Pitripaksha * is the ancestors of 7 generations... Remember
* Navratri * as a woman's Navarup Day... * Celebrate Sanatan festivals...
Different festivals celebrated in your Sanatan culture are in the way of missionaries conversion, that is why programs similar to your religious traditions are being brought by missionaries.
So that you can be motivated towards religious conversion by breaking from Sanatan civilization.
Now we have to accept the eternal spirit of the earth. If we are not aware in time, then they will come to teach us Vedas, Shastra, Sanskrit too! The only solution to this is to return to your roots. Return to your eternal origin, celebrate fasts, festivals, live your culture and civilization. Indian Panchang should be adopted in life, so that India can easily know and understand many information about its festivals, festivals and seasons...
* Culture Protection Campaign...*
Contributed by Rekha Panchal thru FB
Friday, March 12, 2021
Wednesday, March 10, 2021
Have enough spectrum, hence didn't buy much at auctions: Vodafone Idea CTO Vodafone Idea said the telco did not purchase spectrum in quantities similar to rivals Reliance Jio and Bharti Airtel because it had "enough spectrum" and the telco has no intention of giving up spectrum in its non-priority circles. Danish Khan&Devina SenguptaETTelecomMarch 09, 2021, 21:06 IST
Vodafone Idea said the telco did not purchase spectrum in quantities similar to rivals Reliance Jio and Bharti Airtel because it had "enough spectrum" and the telco has no intention of giving up spectrum in its non-priority circles.
"Overall basis, our spectrum continues to be strong. So not purchasing too much (spectrum) does not mean that we do not have enough spectrum. Because we have enough (spectrum) so we have not purchased much," said Jagbir Singh, Chief Technology Officer at Vi.
The CTO's comments came on the back of the just concluded spectrum auctions where the least aggressive bidder in the 4G auction bought 11.8 MHz in five circles for Rs 1,993.4 crore.
In comparison Jio, picked up spectrum in 22 circles in the 800 MHz, 1800 MHz and 2300 MHz bands for Rs 57,123 crore. Rival Airtel acquired 355.45 MHz of spectrum across the 800 MHz and 900 MHz bands, besides the 1800 MHz, 2100 MHz and 2300 MHz bands, for Rs 18,699 crore.
However, Vi remains unperturbed by competition and Singh added that the telco will continue to look for opportunities to improve its 4G network and make capex investments accordingly.
"We already covered one billion plus population on 4G today. We continue to grow that and we continue to keep putting more and more capacity-switching off 3G for 4G and serving the 2G customers the option of 4G and using the spectrum in the most efficient way...," Singh added.
Singh said that the telco has sufficient 4G capacity to serve 270 million subscribers, which will get enhanced as it continues to rapidly re-farm 3G spectrum to 4G.
In several markets, the telco has the largest sub-GHz spectrum holding, which will help it further as 2G spectrum is also getting re-farmed to 4G, he said.
The operator, which has 16 circles that are its focus point, has no intention of giving up any airwaves in the other six non priority circles as well.
"We are not taking out investment in others circles. The investments will happen proportionately. The investment will happen more in the 16 circles - part one, part two and part three, that is our priority, but we are not planning to take out any equipment from the part four circles or the category C circles," said Singh.
𝗡𝗢 𝗕𝗜𝗟𝗟𝗜𝗡𝗚 𝗖𝗢𝗨𝗡𝗧𝗘𝗥 at 𝗜𝗻𝗱𝗶𝗮’𝘀 𝗯𝗶𝗴𝗴𝗲𝘀𝘁 𝗞𝗶𝗱𝗻𝗲𝘆 𝗗𝗶𝗮𝗹𝘆𝘀𝗶𝘀 𝗛𝗼𝘀𝗽𝗶𝘁𝗮𝗹 in Delhi.
TOTALLY FREE services to all the patients at the most technically advanced Kidney Dialysis hospital of India opened by Delhi Sikh Gurdwara Management Committee.
Guru ka Langar will also be served along with to all Patients.
Source: Manjinder Singh Sirsa
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