Focusindiagroup

17/07/2012

HnyB Insights to Release 2nd Quarter update for 2nd Edition Report Series. The Social Ecosystem covered in the Research is as below.

09/03/2012

04/02/2012

India and Romania have agreed to enhance cooperation in the hydrocarbon sector and explore investment opportunities in IT, infrastructure and tourism

04/02/2012

India sold Rs 130 billion ($2.64 billion) of bonds on Friday and the Reserve Bank of India set a cut off price of Rs 98.29.

04/02/2012

Industry leaders also demanded that healthcare services should be kept outside the ambit of service tax and MAT be rationalised.

03/02/2012

Telecom sector experts estimate that the operations in the cancelled licences involve approximately 4,000 direct jobs and over 6,000 indirect jobs.

03/02/2012

The government's struggling finances are expected to get a leg up, thanks to the Supreme Court ordering fresh auction of 2G spectrum on Thursday.

03/02/2012

The finance ministry will be infusing Rs 18,000 crore in the current fiscal in 12 banks, including SBI, and will be seeking supplementary grants from Parliament in the Budget session.

03/02/2012

RBI may consider paring the 40% priority sector target for commercial banks. However, banks may have to lend more to the micro, SMEs and weaker sections.

03/02/2012

The Planning Commission and the finance ministry are at odds over the accounting of plan and non-plan schemes in the budget.

02/02/2012

2G Scam Supreme Court Cancels 122 2G licenses Fresh Licenses will be given

Today Supreme Court of India cancelled all 122 telecom licenses allotted under the 2G spectrum allocation on or after January 10, 2008. While canceling the licenses the Supreme Court ruled that 85 out of the 122 licenses were outside the eligibility criteria for allocation. The apex court said that the 122 licenses for 2G spectrum were granted in
Arbitrary and unconstitutional manner.

Following is the list or say names of companies whose licenses were cancelled by Supreme Court in 2G scam.

The licenses cancelled include

21 of Videocon
22 of Uninor
9 of Idea
21 of Loop
6 of S-Tel
21 of Sistema
3 of Tata
13 of Swan
2 of Allianz

In next 4 months Telecom Regulatory Authority of India (TRAI) will slowly cancelled all licenses and licenses will be issued again.

Because of 4 months time period, Consumers will not suffer.

A penalty of Rs 5 crore has been imposed on

1. Unitech Wireless

2. Swan Telecom

3. Tata Telecom

A penalty of Rs 50 lakh has also been imposed on Loop, S-Tel, Allianz and Sistema Shyam.

Central Vigilance Commission will monitor the 2G investigation.

Regarding the role of former finance minister P Chidambaram SC said that let the Trial Court decide it.

As per facts Bhushan said that a finance ministry note pointed to a "clear fact" that officials of the finance ministry repeatedly pointed out that spectrum allocation could not be determined by the entry fee of 2001.

Despite the fact that the finance secretary had taken such a strong view which had been recorded in the DoT's approach paper, Chidambaram chose to side with Raja on the issue of pricing,

A finance ministry note to the PMO signed by Pranab Mukherjee was also taken on record by the Supreme court in which it was stated that the scam could have been averted had Chidambaram suggested the policy of auction instead of the first-come-first-serve policy on allocation of spectrum.

The judgments was pronounced by a bench comprising Justices G S Singhvi and A K Ganguly.

02/02/2012

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