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The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Tuesday said it has ordered listing of a plea challenging the verdict of the <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords">Bombay High Court</keyword> which had upheld a decision of a Mumbai college to impose a ban on wearing of 'hijab', 'burqa' and 'naqab' inside the campus. The high court had on June 26 refused to interfere with the decision of the <keyword id="22185170" type="General" weightage="20" keywordseo="chembur-trombay-education" source="keywords">Chembur Trombay Education</keyword> Society's N G Acharya and <keyword id="22271323" type="General" weightage="20" keywordseo="d-k-marathe-college" source="keywords">D K Marathe College</keyword> imposing the ban, saying such rules do not violate students' <keyword id="20068423" type="General" weightage="20" keywordseo="fundamental-rights" source="keywords">fundamental rights</keyword>. It had said a <keyword id="42035" type="General" weightage="20" keywordseo="dress-code" source="Orion">dress code</keyword> is meant to maintain discipline which is part of the college's fundamental right to "establish and administer an educational institution". Taking note of submission seeking urgent listing of the appeal, a bench comprising Chief Justice D Y Chandrachud and Justices JB Pardiwala and Manoj Misra said it has already assigned a bench for the matter and that it would be listed soon. Lawyer Abiha Zaidi, appearing for petitioners, including Zainab Abdul Qayyum, sought urgent hearing saying the unit tests in the college are likely to commence on Wednesday. The top court is yet to conclusively decide the legality of such diktats issued by educational institutions. A two-judge bench of the top court, on October 13, 2022, had delivered opposing verdicts in the hijab controversy emanating from Karnataka. The then BJP-led state government had imposed a ban on wearing the Islamic head covering in schools there. While Justice Hemant Gupta, since retired, had dismissed the appeals challenging the judgement of the Karnataka High Court which had refused to lift the ban, Justice Sudhanshu Dhulia had held there shall be no restriction on the wearing of hijab anywhere in the schools and colleges of the state. The present controversy stems from the decision of a Mumbai college. The Bombay High Court trashed the plea against the ban and said the dress code was applicable to all students irrespective of religion or caste. The students, who were in the second and third year of the science degree course, had moved the high court, challenging a directive issued by the college imposing a dress code under which students cannot wear a hijab, naqab, burka, stoles, caps and badges on the premises. The students had claimed it was against their fundamental right to practice religion, the right to privacy and right to choice. The college's action was "arbitrary, unreasonable, bad-in-law and perverse", the plea had said. The high court, however, had said it could not see how the prescription of dress code by the college violated Articles 19(1)(a) (freedom of speech and expression) and 25 (freedom to practice religion) of the Constitution. "In our view, the dress code as prescribed cannot be held to violate the petitioners' rights claimed under Article 19(1) (a) and Article 25 of the Constitution of India," the HC had said. The high court had also refused to accept the petitioners' contention that wearing a hijab, naqab and burqa was an essential practice of their religion. "Except for stating that the same constitutes an essential religious practice on the basis of the English translation of Kanz-ul-Iman and Suman Abu Dawud, there is no material placed to uphold the petitioners' contention that donning of hijab and naqab is an essential religious practice. The contention in that regard, therefore, fails," the HC had said. Prescribing a dress code should be seen as an "exercise towards maintaining discipline", and the right to do so flows from the fundamental right to establish and administer an educational institution under Article 19(1)(g) (right to practise any profession or run trade/business) and Article 26 of the Constitution, the HC had said. The dress code was mandatory only within the college premises and the petitioners' freedom of choice and expression was not otherwise affected, it had said.

Supreme Court to hear plea of students against Bombay HC verdict upholding ban on hijab, burqa in college

New Delhi: The <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> on Wednesday said it will hear on September 17 the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="nclat" source="keywords">NCLAT</keyword>, which had stayed insolvency proceedings against ed-tech firm BYJU's and approved its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="bcci" source="keywords">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by a battery of lawyers that the plea be heard urgently keeping in mind the subsequent developments in the case. The plea was mentioned by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. The submission was supported by Solicitor General Tushar Mehta, appearing for the <keyword id="19901245" type="General" weightage="20" keywordseo="bcci" source="keywords">BCCI</keyword>, and senior lawyer Abhishek Singhvi, also appearing for the ed-tech firm. Kaul said another plea in the case has also been filed and that is listed for hearing on September 17 and hence, the present plea be either heard on that day or the hearings in both the cases be advanced to this Friday. "We will hear both the pleas on September 17," the CJI said. Senior advocate Shayam Divan, appearing for the US-based creditor, said let the matters be heard together on September 17. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal <keyword id="19916400" type="General" weightage="20" keywordseo="nclat" source="keywords">NCLAT</keyword>. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the <keyword id="19902197" type="General" weightage="20" keywordseo="national-company-law-tribunal" source="keywords">National Company Law Tribunal</keyword> (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's.

SC to hear plea related to insolvency proceedings against ed-tech firm Byju's on Sept 17

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="NCLAT" source="keywords">NCLAT</keyword>, which had stayed <keyword id="19965539" type="General" weightage="20" keywordseo="insolvency-proceedings" source="keywords">insolvency proceedings</keyword> against ed-tech firm <keyword id="19958178" type="General" weightage="20" keywordseo="Byjus" source="keywords">BYJU's</keyword> and approving its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="153" meta.entityid="BCCI">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. Kaul said, "The only funding was done by the promoters and today no one has brought any external borrowing. We have to show today how malafide the petition (of US firm) is." "I will get it listed as early as possible," the CJI, who was indisposed and in quarantine for the last few days, said. Senior advocate Kapil Sibal, appearing for the US-based creditor, said it also wanted an early hearing. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal NCLAT. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the National Company Law Tribunal (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a>

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

New Delhi, About 82 per cent of the total income from unknown sources declared by national political parties in 2022-23 came from electoral bonds, according to a poll rights body. The Association for Democratic Reforms (ADR) also said that the analysis of the national parties' audit reports and donation statements filed with the Election Commission (EC) shows that the sources remain largely unknown. Out of the Rs 1,832.88 crore as income from unknown sources, the share of income from electoral bonds was Rs 1,510 crore or 82.42 per cent, according to the analysis of the financial reports for the fiscal year 2022-23 submitted to the poll panel, it stated. For this study, six national parties were considered -- the <keyword id="19931558" type="General" weightage="20" keywordseo="bharatiya-janata-party" source="keywords">Bharatiya Janata Party</keyword> (BJP), the Congress, the Communist Party of India (Marxist) (CPI-M), the Bahujan Samaj Party (BSP), the Aam Aadmi Party (AAP) and the National People's Party (<keyword id="20864989" type="General" weightage="20" keywordseo="npep" source="keywords">NPEP</keyword>). The BJP declared the highest income from unknown sources among the national parties at Rs 1,400 crore or 76.39 per cent of the total amount. The Congress declared an amount of Rs 315.11 crore (17.19 per cent). The BSP has declared that it did not receive any funds from voluntary contributions -- above or below Rs 20,000, sale of coupons or electoral bonds, or unknown sources of income, the ADR said. Though the amount of donations from electoral bonds has been highlighted for the national parties, state parties also get a substantial amount of money from electoral bonds, the NGO noted. Between the financial years 2004-05 and 2022-23, the national parties collected Rs 19,083 crore from unknown sources, it said. On its latest analysis for the financial year 2022-23, the ADR said among these unknown sources, the major contributor was income from electoral bonds, constituting a "massive 82.42 per cent of the total income from unknown sources". Further scrutiny revealed that out of the total income from unknown sources, Rs 1,510 crore came from electoral bonds, it said. In addition, the Congress and the CPI(M) have also declared a combined income of Rs 136.79 crore from the sale of coupons, constituting 7.46 per cent of the income from unknown sources, its analysis showed. The BSP received Rs 29.27 crore from other known sources of income which included bank interest (Rs 15.05 crore), membership fees (Rs 13.73 crore), gain on sale of immovable property (Rs 28.49 lakh) and interest on income tax refund for 2021-22 (Rs 20.65 lakh), the organisation said. The total income of the six national political parties in the financial year 2022-23 is Rs 3,076.88 crore, it said. Donations from voluntary contributions below Rs 20,000 formed 10 per cent of the income from unknown sources, totalling Rs 183.28 crore. Currently, political parties are not required to reveal the names of individuals or organisations giving less than Rs 20,000. The ADR has suggested stringent measures to enhance transparency and accountability in political funding. It advocates for full disclosure of all donors under the Right to Information (RTI) Act and proposes that the mode of payment for all donations, regardless of the amount, be declared in the audit reports submitted to the Income Tax Department and the EC. Moreover, the EC's recommendation to grant tax exemption only to parties contesting and winning seats in elections, along with the disclosure of donors contributing above Rs 2,000, has received support from the ADR. In a landmark verdict delivered last month, ahead of the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> polls, the <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> scrapped the government's electoral bonds scheme of anonymous political funding, terming it "unconstitutional" and ordering disclosure of the names of the purchasers, value of the bonds and their recipients.

About 82.4% of national parties' unknown income tied to electoral bonds says poll rights body

<keyword id="19902762" type="General" weightage="20" keywordseo="google" source="keywords">Google</keyword> on Friday said that after giving developers in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> more than three years to prepare, including three weeks after the <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword>'s order, it is taking necessary "ensure our policies are applied consistently across the ecosystem, as we do for any form of policy violation globally". The company said in a blog post that enforcement of its policy, when necessary, can include removal of non-compliant apps from Google <keyword id="20163860" type="General" weightage="20" keywordseo="play" source="keywords">Play</keyword>. Developers are welcome to resubmit their apps to be listed on Play by electing any of the three billing options as part of the company's payments policy. One of the options is to operate on a consumption-only basis without paying a service fee, even if it is part of a paid service. "With this option, any developer could allow a user of their app to access content that they paid for outside the app," said Google. The second option is to integrate Google Play's billing system to transact with millions of customers around the world and give their users safe ways to pay and the ability to manage their payments from a central location. The third option is to offer an alternative billing system alongside Google Play's for users in India. "When users opt for alternative billing systems, the fee is further reduced by an additional four per cent. App developers expanding in international markets can also enroll as part of our user choice billing pilot currently available in 35 markets," Google explained. In the meantime, "these developers continue to have other options to operate their business on Android, including distribution through alternative Android app stores or directly via their websites." "Existing users will be able to continue to access the apps without interruption - and we continue to offer our support to help developers get into compliance," said the company. The Android and Play ecosystem have collectively supported over 2.5 million jobs in India, said the company. In India, less than 60 developers on Google Play are subject to fees above 15 per cent, it added. The company said it has over 200,000 Indian developers using Google Play who adhere to the policies. The Supreme Court last month issued notice on a petition to Google India filed by tech startups, challenging Google Play Store's billing policy as "exploitative". SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-14-to-launch-in-india-on-march-7-to-take-on-the-galaxy-s23-and-oneplus-12/articleshow/107841326.cms" target="_blank">Xiaomi 14 to launch in India on March 7, to take on the Galaxy S23 and OnePlus 12</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-with-dimensity-7050-chipset-to-launch-in-india-on-march-6/articleshow/108129873.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-with-dimensity-7050-chipset-to-launch-in-india-on-march-6/articleshow/108129873.cms" target="_blank">Realme 12+ 5G with Dimensity 7050 chipset to launch in India on March 6</a><a href="https://www.businessinsider.in/tech/news/indian-tablet-market-down-by-24-9-in-2023-samsung-leads-the-market/articleshow/107878795.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-tablet-market-down-by-24-9-in-2023-samsung-leads-the-market/articleshow/107878795.cms" target="_blank">Indian tablet market down by 24.9% in 2023, Samsung leads the market</a>

Google begins to enforce Play Store policies in India, to remove non-compliant apps

New Delhi, The <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> on Thursday struck down the electoral bond scheme, saying it violates the right to information and the freedom of speech and expression under the Constitution. In a landmark judgement that will have wide ramifications, it ordered the <keyword id="19934368" type="General" weightage="20" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> to disclose to the <keyword id="19895782" type="General" weightage="20" keywordseo="election-commission" source="keywords">Election Commission</keyword> the names of the contributors to the six-year-old scheme. A five-judge Constitution bench headed by Chief Justice <keyword id="19936357" type="General" weightage="20" keywordseo="d-y-chandrachud" source="keywords">D Y Chandrachud</keyword> delivered two separate and unanimous verdicts on the pleas challenging the scheme, delivering a major blow to the central government. Pronouncing the verdict, the CJI said the scheme is violative of freedom of speech and expression under Article 19(1)(a) of Constitution. The bench said the fundamental right to privacy also includes citizens' right to political privacy and affiliation. It also held as invalid the amendments made in various laws, including the <keyword id="20592932" type="General" weightage="20" keywordseo="representation-of-peoples-act" source="keywords">Representation of Peoples Act</keyword> and the Income Tax laws. It directed that the issuing bank shall stop issuance of electoral bonds and the State Bank of India shall submit details of electoral bonds purchased since April 12, 2019 till date to the Election Commission. The top court had on November 2 last year reserved its verdict in the matter. The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. According to the provisions of the scheme, electoral bonds may be purchased by any citizen of India or entity incorporated or established in the country. An individual can buy electoral bonds, either singly or jointly with other individuals without disclosing the identity. Critics have said this eliminates transparency in electoral funding and gives an edge to the ruling parties.

SC strikes down electoral bond scheme, terms it unconstitutional

New Delhi, In a significant ruling, the Supreme Court on Friday dismissed Chinese smartphone brand <keyword id="1731609" type="General" weightage="20" keywordseo="oppo" source="Orion">OPPO</keyword>'s plea against a Delhi High Court order which directed the company to deposit 23 per cent of the amount generated from its sales in the country for infringing upon <keyword id="6354716" type="General" weightage="20" keywordseo="nokia" source="Orion">Nokia</keyword>'s patent. A division bench of the Delhi High Court passed the order in July, after it found that the Chinese smartphone brand was using Nokia's technology without the requisite consent. The HC had reached the 23 per cent penalty figure after taking into account OPPO's sales in India which is around 23 per cent of its global sales. A Nokia Technologies spokesperson said in a statement that they welcome the Supreme Court decision. "OPPO has been unwilling to renew its license on fair and reasonable terms or resolve the matter amicably and has used our technology without making any royalty payments for two years," a Nokia spokesperson said. Courts in India, Germany, the UK, the Netherlands, and Brazil have all given their verdicts in Nokia's favour. "Once again, we encourage OPPO to play by the rules, and like its competitors, agree to a license on fair and reasonable terms, rather than continue to operate without one," said Nokia. OPPO had secured a licence from Nokia in 2018 for using some of the Finnish telecom gear company's technology for three years. Nokia alleged that after the expiry of the pact, OPPO sold around 77 million devices in India without paying a single rupee in royalty, according to reports. In July 2022, a German court decided a suit in favour of smartphone brand Nokia in its 4G/5G patent dispute against OPPO. According to GizmoChina, the suit had resulted from the breakdown in discussions between Nokia and OPPO over 4G (LTE) and 5G patents. Nokia had sued OPPO over nine Standard Essential Patents (SEPs) and five implementation patents in three regional German Courts. Nokia is the standard-bearer in the 5G SEPs segment with huge investments of about $130.3 billion. --IANS na/vd

SC dismisses OPPO's challenge to HC order directing it to pay 23% of India sales to Nokia

<ul><li>The stock price of Reliance Industries is on the rise after the Supreme Court verdict on how to define <keyword id="728949" type="PERSON" weightage="20" keywordseo="adjusted-gross-revenue">adjusted gross revenue</keyword> (AGR) for telecom operators.</li><li>The stock prices of Airtel and Vodafone Idea, on the other hand, dipped sharply.</li><li>The financial impact of the verdict will be greater on the two legacy players in the market, leaving it weakened against the younger Jio and Mukesh Ambani's deep pockets.</li></ul> Reliance Industries' share price shot up by 1.77% on October 24 after the Supreme Court ruled in favour of the government in defining adjusted gross revenue (AGR) for telecom companies. But, it dipped back to its opening price of ₹1436.25 by end of the day. All telecom operators are now bound to pay a levy to the government⁠— including for past revenue⁠— on not just the money earned from core telecom services but also on dividends, handset sales, rent and profit from the sale of scrap in addition to revenue from services. Airtel will have to pay ₹21,682.13 crore and Vodafone will have to cough up ₹19,823.71 crore to the Indian government, according to the Department of Telecommunications (DoT). Given the huge financial impact on Vodafone and Airtel, they will be considerably weakened to complete against Mukesh Ambani’s Jio and its deep pockets. Both Airtel and Vodafone have huge debts and are bleeding cash in trying to retain customers from moving on to Jio. Reliance Jio also has high debt but its parent company, Reliance Industries, underwent one of the largest capital expenditure exercise by an Indian corporate. Of the $93 billion invested in different verticals, nearly half was invested in Jio. It’s network is already 5G-ready whereas Airtel and Vodafone still have a ways to go to upgrade their infrastructure. The budget set aside for making the network better and buying the 5G spectrum will now go into clearing the government dues . Meanwhile Jio can aggressively move towards acquiring more customers from these two peers.

You Searched For "2G Supreme Court Verdict" and got 8 results

Supreme Court to hear plea of students against Bombay HC verdict upholding ban on hijab, burqa in college

PTI

SC to hear plea related to insolvency proceedings against ed-tech firm Byju's on Sept 17

PTI

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

PTI

About 82.4% of national parties' unknown income tied to electoral bonds says poll rights body

PTI

Google begins to enforce Play Store policies in India, to remove non-compliant apps

IANS

SC strikes down electoral bond scheme, terms it unconstitutional

PTI

SC dismisses OPPO's challenge to HC order directing it to pay 23% of India sales to Nokia

IANS

It’s advantage Reliance Jio after Supreme Court verdict drains Airtel and Vodafone

Prabhjote Gill

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