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The board of clean energy solution provider <keyword id="46212" type="General" weightage="20" keywordseo="Suzlon-Energy" source="Orion">Suzlon Energy</keyword> has appointed J P <keyword id="149791" type="General" weightage="100" keywordseo="chalasani" source="Orion">Chalasani</keyword> as the company's Chief Executive Officer following the resignation of <keyword id="6372540" type="General" weightage="20" keywordseo="Ashwani-Kumar" source="Orion">Ashwani Kumar</keyword> from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. The Board of Directors, at its meeting held on 4th April 2023 has, inter alia, approved the appointment of J P Chalasani as the Chief Executive Officer and one of the key managerial personnel of the Company, to act as the Group Chief Executive Officer, with immediate effect, i.e. from 5th April 2023, the filing said. Chalasani had been Group CEO of Suzlon for the period from April 2016 to July 2020 and continued as Strategic Advisor to the Suzlon Group thereafter. Chalasani has over 40 years of experience in the public and private sector across the entire gamut of the power sector (power generation projects, transmission, distribution, trading and coal mining). Prior to his earlier stint as the Group Chief Executive Officer of the Company, Chalasani was the Group CEO and Managing Director of Punj Lloyd since January 2014 and was responsible for the energy, infrastructure and defence business for the group globally, which is close to USD 1.8 Billion. Prior to joining Punj Lloyd, Chalasani had spent over 18 years with the Reliance Group. He joined Reliance Group (undivided) as a Vice President in 1995 and worked on a number of assignments for the group. He also served as the first Chief Executive Officer and the Director on the Board of BSES Rajdhani and BSES Yamuna Power Ltd. In 2003, along with Anil Ambani, he was appointed to the Board of Reliance Infrastructure as Director Business Development. Post demerger of the Reliance Group, Chalasani was with the ADAG group. He took over as CEO of Reliance Power in March 2008, soon after the company completed its big initial public offer. Chalasani created a 10 people team to start Reliance Power and grew it to a 30,000 MW (generating, under construction and under development) company in 2013. Prior to Reliance Group, Chalasani started his career at NTPC and worked there for 15 years in various capacities, including Special Technical Assistant to the Chairman and Managing Director.

Suzlon board appoints J P Chalasani as Chief Executive Officer

<ul><li>Shares of Vodafone Idea have spiked nearly 18% in the last two days on hopes of a bailout from the government.</li><li>There were three demands made by the company’s billionaire promoter Kumar Mangalam Birla.</li><li>According to experts, the most viable option at this stage is to put a floor price on tariff, one that would apply to all three major players including Bharti Airtel and Reliance Jio.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>Vodafone Idea and its management have been sending out SOS to the government. The market seems to believe that a rescue package may be coming after promoter Kumar Mangalam Birla has written to the Prime Minister Narendra Modi and met the newly-appointed Minister for Communications, Ashwani Vaishnaw. The shares of Vodafone Idea surged over 10% on September 2 and another 7% yet again today (Sept. 3). The most viable option, according to experts, at this stage, is to have a floor price for telecom services for all operators including Bharti Airtel and Reliance Jio. Floor price refers to a minimum price for voice and data services, which means telecom operators will not be able to offer rates lower than the floor price. <div type="image" title="Vodafone Idea 01_04_21 to 03_09_21." msid="85890408" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone Idea share price over the last two months&amp;lt;/p&amp;gt;"></div> The market seems to believe that Vodafone Idea may be rescued but experts believe it may be easier said than done. There were 3 demands from Birla, in his letter to the Prime Minister dated June 7: to reduce the payment of regulatory dues after the Supreme Court allowed the recalculation of revenue in earlier years (also called adjusted gross revenue or AGR), to defer payment for spectrum licences, and to set a minimum level of tariffs for mobile phone operators. Sanjay Kapoor, the former chief executive officer of Bharti Airtel, believes if Vodafone Idea gets any of these measures as a bail out, others, including Reliance Jio, will also demand the same and it will only be fair. <div type="Video" msid="85894226" hostid="261" title="How to read Kumar Mangalam Birla’s letter to the government" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85894226"></div> “I think it will be parochial to read Mr. Birla's letter as wanting to sell his stake. I think it is metaphoric and symbolic in nature,” Kapoor said, explaining that Birla underlined his concerns with the Indian telecom industry slipping back to a duopoly, and that his company and Vodafone Plc., haven’t been able to generate returns out of their multi-billion dollar investment in the telco. On the other hand, R Chandrashekhar, former secretary, Telecom and information technology (IT), told Business Insider that not all of these requests are viable. Like Kapoor, Chandrashekhar also said that the moratorium on spectrum payments would require changing the terms agreed to by the operators, and offering support only to one telco is impossible. The government may find it difficult to let go of revenue, especially from for-profit private companies, at a time when the pandemic has stretched its finances. In the case of AGR dues, the Supreme Court order leaves no room for the government to make exceptions even for a company like Vodafone Idea that seems to be bleeding to death, fast. <div type="Video" msid="85209717" hostid="261" title="What if Vodafone Idea dies and can it be saved?" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85209717"></div> That leaves us with a floor pricing regime that will define the minimum cost of service that operators can charge. This is a request that Telecom Regulatory Authority of India (TRAI) had earlier rejected but, according to reports, the proposal is back on the table for the Department of Telecom to consider. The government, too, finds itself between a rock and a hard place. It can’t be seen as saving a private company owned by a billionaire like Birla, with an estimated net worth of $14.3 billion as per Forbes, in partnership with a multinational giant like Vodafone. It may be a tough call to offer sops to other billionaires like Mukesh Ambani (net worth estimated at $90.2 billion by Forbes and Sunil Bharti Mittal (estimated net worth $12.9 billion), in a bid to provide relief to Birla’s firm. But letting Vodafone Idea die will turn Indian telecom into a duopoly, or a two player market, which may lead to an unpopular rise in the cost of services at a time when the government wants internet and digital technologies to be more widely accessible and adopted by people at large. As Chandrashekhar put it, “it's a difficult problem at the outset, but the solution requires not only a brilliant plan or a design, but it requires a taker”. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/what-if-vodafone-idea-dies/articleshow/85127937.cms">What if Vodafone Idea dies?</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-shares-spike-after-promoter-kumar-mangalam-birlas-meeting-with-indias-telecom-minister/articleshow/85861279.cms">Vodafone Idea shares spike after promoter Kumar Mangalam Birla's meeting with India's Telecom minister</a>

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Suzlon board appoints J P Chalasani as Chief Executive Officer

PTI

Market hopes Vodafone Idea will be saved and these are the rescue options

Rounak Jain

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