New Delhi, Nov 20 () After BSNL, state-owned Mahanagar Telephone Nigam Ltd (MTNL) on Wednesday said its VRS plan has surpassed its internal estimates as more than 13,500 employees have opted for the recently-announced scheme so far.
 MTNL had initially expected the voluntary retirement scheme (VRS) optees to touch 13,500, but the numbers have already reached 13,532 employees, with nearly two weeks left to go before the closing date for exercising the option.
 "We have received a strong response; and so far, as many as 13,532 employees have opted for the VRS scheme. Our internal target had been 13,500," MTNL Chairman and Managing Director Sunil Kumar told .
 He promised that the corporation will try to accommodate as many employees as possible.
 "We expect the numbers to reach the range of 14,500 to 15,000 by the closing date," he said adding that, in all, 16,300 employees are eligible for the scheme.
 In case of Bharat Sanchar Nigam Ltd (BSNL), as many as 77,000 employees of state-owned telecom corporation have opted for the recently launched VRS until now.
 Mahanagar Telephone Nigam Ltd (MTNL) scheme, based on Gujarat Model of VRS, will be open for employees till December 3, 2019. It has said that "all regular and permanent employees of 50 years and above as on January 31, 2020" are eligible to opt for the scheme.
 The government has approved a plum Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving VRS to employees so that the combined entity turns profitable in two years.
 The Cabinet has approved the plan to combine MTNL - which provides services in Mumbai and New Delhi - with Bharat Sanchar Nigam Ltd (BSNL) that services the rest of the nation.
 MTNL has reported losses in nine of the past 10 years and BSNL too has been reporting losses since 2010. The total debt on both the companies stood at Rs 40,000 crore, of which half of the liability is on MTNL alone. MBI MBI ANS
ANS

After BSNL, MTNL rings in strong VRS response; says over 13,500 staff opted for scheme so far

New Delhi, Jan 9 () State-owned MTNL on Thursday said that it has received shareholders' approval for raising up to Rs 6,500 crore through issuance of non-convertible debentures as well as for monetisation of land and buildings.
 During the extraordinary general meeting of Mahanagar Telephone Nigam Ltd (MTNL) which was held on Wednesday, 99.89 votes were cast in favour of the issuance of "guaranteed, unsecured, listed, redeemable non-convertible debentures in the nature of bonds (NCDs), in one or more series/tranches, aggregating up to Rs 6,500 crore on private placement basis," MTNL said in a filing to BSE.
 The company further said that majority votes were cast in favour of the monetisation of land and buildings as specified/ identified by its board in line with the Department of Investment and Public Asset Management (DIPAM) guidelines and as per revival plan of the company approved by the Union Cabinet recently.
 It added that majority votes were polled in favour of monetisation of towers and fiber assets including leasing, after considering the market conditions with an aim to maximise returns as per the revival plan of the company, and non-convertible redeemable non-cumulative preference shares on a private placement basis to the government towards payment of 4G spectrum cost.
 The government had earlier approved a Rs 69,000-crore revival package for BSNL and MTNL that included merging the two loss-making firms, monetising their assets and giving voluntary retirement scheme (VRS) to employees so that the combined entity turns profitable in two years.
 The companies have already announced VRS schemes. As per official estimates, 78,569 employees of BSNL and 14,387 employees of MTNL have opted for VRS. SID ANS
ANS
ANS

MTNL shareholders approve Rs 6,500-cr NCD issue, monetisation of land and buildings

New Delhi, Jan 9 () State-owned MTNL on Thursday said that it has received shareholders' approval for raising up to Rs 6,500 crore through issuance of non-convertible debentures as well as for monetisation of land and buildings.
 During the extraordinary general meeting of Mahanagar Telephone Nigam Ltd (MTNL) which was held on Wednesday, 99.89 votes were cast in favour of the issuance of "guaranteed, unsecured, listed, redeemable non-convertible debentures in the nature of bonds (NCDs), in one or more series/tranches, aggregating up to Rs 6,500 crore on private placement basis," MTNL said in a filing to BSE.
 The company further said that majority votes were cast in favour of the monetisation of land and buildings as specified/ identified by its board in line with the Department of Investment and Public Asset Management (DIPAM) guidelines and as per revival plan of the company approved by the Union Cabinet recently.
 It added that majority votes were polled in favour of monetisation of towers and fiber assets including leasing, after considering the market conditions with an aim to maximise returns as per the revival plan of the company, and non-convertible redeemable non-cumulative preference shares on a private placement basis to the government towards payment of 4G spectrum cost.
 The government had earlier approved a Rs 69,000-crore revival package for BSNL and MTNL that included merging the two loss-making firms, monetising their assets and giving voluntary retirement scheme (VRS) to employees so that the combined entity turns profitable in two years.
 The companies have already announced VRS schemes. As per official estimates, 78,569 employees of BSNL and 14,387 employees of MTNL have opted for VRS. SID ANS
ANS

MTNL shareholders' approve Rs 6,500-cr NCD issue, monetisation of land and buildings

New Delhi, Jun 18 () As the telecom department gears up to ask private telcos to gradually lower their dependence on Chinese equipment, industry body COAI on Thursday said geopolitical issues are the under the purview of the government and should be kept separate from corporate decisions. Cellular Operators' Association of India (COAI) -- whose members include private telcos such as Bharti Airtel and Vodafone Idea -- further said that so far, the government had not mandated exclusion of any vendors' equipment from private operator networks. When government makes laws, companies are "duty-bound" to comply with them, it said. "Geopolitical issues are the provenance of the government and such decisions are distinct; and should ideally be kept separate from commercial decisions which are the provenance of companies," COAI Director General, Rajan Mathews told . As such, companies are driven in their decisions by the interest of provisioning the best possible service to their customers and to take care of the interest of their stakeholders, he said. In a hardening of stance in the backdrop of tensions at the Indo-China border, the government has decided to ask state-owned Bharat Sanchar Nigam Ltd (BSNL) not to use Chinese telecom gear in its 4G upgradation, which is being supported as part of the company revival package, according to sources. The development comes at a time when Indian and Chinese armies are engaged in a standoff in Pangong Tso, Galwan Valley, Demchok and Daulat Beg Oldie in eastern Ladakh. The standoff has stirred anti-China sentiments in India, with protesters and some trade bodies like Confederation of All India Traders calling for a boycott of Chinese products in protest to border standoff. Sources privy to discussions being held in Department of Telecom said it has been decided that BSNL will be asked not to use Chinese equipment in upgradation to 4G network, which is being supported by its revival package. The department is likely to seek tweaking of the tender in this regard. A similar message will be conveyed to Mahanagar Telephone Nigam Ltd (MTNL), sources said. Moreover, the department is even considering measures to urge private telecom operators to bring down their dependence on Chinese-made telecom equipment. "When government makes laws, then companies are duty-bound to adhere to them. To date, government had not mandated the exclusion of any vendors equipment from private operator's networks," COAI's Mathews said. Amid the face-off between Indian and Chinese troops in Galwan Valley, hashtags like "HindiCheeniByeBye" and "BharatVsChina" were trending on Twitter. Earlier on Wednesday, Chinese handset maker Oppo cancelled the livestream launch of its flagship 5G smartphone in the country amid protests calling for the boycott of Chinese products in various parts of the country. Oppo, which ranks among the top five smartphone vendors in India, had said it will livestream the launch of its Find X2 smartphone via YouTube. However, the livestream was cancelled later on, and the company instead uploaded a pre-recorded video. Notably, four of the five top smartphone brands in India (Xiaomi, Vivo, Realme and Oppo) are from China and accounted for almost 76 per cent share of smartphones shipped in India in the quarter ended March 2020. South Korea's Samsung, which ranked third and cornered 15.6 per cent share of shipment in the said quarter is the only non-Chinese firm in the top five tally. MBI ANS ANS

Corporate decisions separate from geopolitical issues, says COAI amid India-China standoff

New Delhi, Dec 11 () State-owned MTNL on Wednesday said it will seek shareholders' nod for monetisation of land and buildings as well as for raising up to Rs 6,500 crore through non-convertible debentures (NCDs).
 Mahanagar Telephone Nigam Ltd (MTNL) said the company's extraordinary general meeting will be held on January 8, 2020, in this regard.
 The company would seek shareholders' approval for issue of non-convertible redeemable non-cumulative preference shares (NCRNCPS) on a private placement basis to the government towards payment of 4G spectrum cost.
 "...approval of the members be and is hereby accorded to authorise the board...to offer or invite or invite subscriptions for government guaranteed, unsecured, listed, redeemable non-convertible debentures in the nature of bonds (NCDs), in one or more series / tranches, aggregating up to Rs 6500 crores on private placement basis..." it said.
 Approval is also being sought for monetisation of land and buildings as specified/ identified by its board in line with the Department of Investment and Public Asset Management (DIPAM) guidelines and as per revival plan of the company approved by the Union Cabinet recently.
 The consent of the shareholders is also being sought for opening of an escrow account for "ring-fencing the proceeds from monetisation of assets for use by the company under revival/restructuring plan".
 Another item pertains to monetisation of towers and fiber assets, including leasing, after considering the market conditions with an aim to "maximise returns as per the revival plan of the company".
 MTNL plans to issue non-convertible redeemable non-cumulative preference shares (NCRNCPS) on a private placement basis to the government towards the payment of spectrum cost of 4G. This entails allotment of up to 62.95 crore preference shares of a face value of Rs 100 each fully paid-up at par at an issue price of Rs 100 aggregating to Rs 6,295 crore.
 The government recently approved a Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving voluntary retirement scheme (VRS) to employees so that the combined entity turns profitable in two years.
 The companies have already announced VRS schemes and as per official estimates, 78,569 employees of BSNL and 14,387 employees of MTNL have opted for VRS. MBI HRS

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After BSNL, MTNL rings in strong VRS response; says over 13,500 staff opted for scheme so far

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MTNL shareholders approve Rs 6,500-cr NCD issue, monetisation of land and buildings

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MTNL shareholders' approve Rs 6,500-cr NCD issue, monetisation of land and buildings

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Corporate decisions separate from geopolitical issues, says COAI amid India-China standoff

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MTNL seeks shareholders' nod for fundraising, monetisation of land & buildings

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