Verizon, Amazon may invest over $4 billion in Vodafone Idea

News Network
September 3, 2020

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Bengaluru, Sept 3: US wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India's Vodafone Idea Ltd, the Mint newspaper reported on Thursday, sending shares in the struggling Indian telecom firm up 10 per cent.

Vodafone Idea's stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could have threatened Vodafone Idea's survival, Mint reported, citing two unnamed people aware of the negotiations.

But Amazon and Verizon are set to resume discussions following a Supreme Court ruling on Tuesday which gave mobile carriers 10 years to settle government dues.

Vodafone Idea did not immediately respond to Reuters request for comment. Amazon and Verizon did not return emails seeking comment outside regular US business hours.

Heavily indebted Vodafone Idea - a joint venture between Britain's Vodafone Group Plc and India's Idea Cellular - had previously said its ability to continue as a going concern rested on a positive outcome of the hearing.

It has paid the Indian government 78.5 billion rupees ($1.1 billion) in telecoms dues, according to regulatory filings, but still owes roughly 500 billion rupees ($6.8 billion) more.

Shares in Vodafone Idea, which ended 13 per cent lower after Tuesday's court ruling, were up 8 per cent at 10.70 rupees on the NSE index by 0405 GMT.

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News Network
September 24,2024

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The Karnataka High Court on Tuesday dismissed the petition filed by Chief Minister Siddaramaiah against Governor Thawarchand Gehlot's decision to sanction the complaint and investigation against him in the alleged Mysore Urban Development Authority (MUDA) scam case.

Justice M Nagaprasanna said the facts narrated in the petition would undoubtedly require an investigation.

The court has also said that the Governor's order approving sanction to investigate against Siddaramaiah under section 17A of the Prevention of Corruption Act does not suffer from application of mind, instead has abundance of application of mind.

Meanwhile, the court rejected the request made by senior advocate Abhishek Singhvi to stay the order of the court. The court has vacated the interim order passed on August 19. In the interim order the trial court was directed not to take any precipitative action against Siddaramaiah. On August 17, Governor had approved sanction under section 17 A  of the Prevention of Corruption Act and Section 218 of Bharatiya Nagarik Suraksha Sanhita ( BNSS), citing three applications.

The court said the private complainants were justified in registering the complaint and seeking approval from the governor.

Insofar as private complainants seeking sanction under section 17A, the court said the provision nowhere requires only a police officer to seek sanction from a competent authority. The court further said it is in fact the duty of the private complainants to seek such approval.

Earlier, The High Court had completed its hearing in the case on September 12, and reserved its orders. It had also directed a special court in Bengaluru to defer further proceedings and not to take any precipitative action against the Chief Minister.

The case pertains to allegations that compensatory sites were allotted to Siddaramaiah's wife B M Parvathi in an upmarket area in Mysuru that had higher property value as compared to the location of her land that had been "acquired" by MUDA.

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News Network
September 25,2024

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New Delhi: The Supreme Court today closed proceedings against Karnataka High Court Judge Justice Vedavyasachar Srishananda, following his public apology for controversial comments made during court sessions. Chief Justice of India DY Chandrachud, leading a five-judge bench, stated that the decision was made in the interest of justice and the dignity of the judiciary.

Justice Srishananda during a recent court hearing. Justice Srishananda, while addressing a landlord-tenant dispute, referred to a Muslim-majority area in Bengaluru as "Pakistan" and made a misogynistic comment involving a woman lawyer. His comments, which went viral on social media, prompted the Supreme Court to seek a report from the Karnataka High Court, which was submitted shortly after the incident.

"No one can call any part of territory of India as 'Pakistan'," Chief Justice Chandrachud said. "It is fundamentally against the territorial integrity of the nation. The answer to sunlight is more sunlight and not to suppress what happens in court. The answer is not to close it down."

The Supreme Court had taken up the case on its own and had sought a report from the Karnataka High Court over the controversial remarks. A five-judge bench led by CJI Chandrachud, along with Justices S Khanna, B R Gavai, S Kant, and H Roy, had on September 20 expressed the need for establishing clear guidelines for constitutional court judges regarding their remarks in court. 

"Casual observational may indicate personal biases especially when perceived to be directed at a certain gender or community. Thus one must be wary of making patriarchal or misogynistic comments. We express our serious concern about observations on a certain gender or a community and such observations are liable to be construed in a negative light. We hope and trust that the responsibilities entrusted to all stakeholders are discharged without bias and caution," CJI Chandrachud said today. 

The Supreme Court bench said that when social media plays an active role in monitoring and amplifying courtroom proceedings, there is an urgency to ensure judicial commentary aligns with the decorum expected from courts of law.

Videos of Justice Srishanananda were viral on social media.

In one video, he refers to a Muslim-dominated locality in Bengaluru as "Pakistan" and in another video he was seen making objectionable comments against a woman lawyer. In the second incident, Justice Srishanananda can be heard telling the woman lawyer that she seemed to know a lot about the "opposition party", so much so that she might be able to reveal the colour of their undergarments.

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News Network
September 24,2024

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Ahmedabad: The investigation into the death of a six-year-old girl in Gujarat's Dahod district has led to a chilling revelation -- the Class I student was choked to death, allegedly by her school's principal after she resisted his attempts to sexually assault her. He then dumped her body in the school's compound and her bag and shoes near the classroom. Police have arrested the accused, 55-year-old Govind Natt.

Senior police officer Rajdeep Singh Jhala said the six-year-old girl's body was found on the premises of her school on Thursday evening, sparking panic in the area. The post-mortem revealed that she suffocated to death. Police registered a case and formed 10 teams to probe the matter. The girl's mother told the police that she went to school with the principal, Govind Natt, every day. When the cops spoke to him, the principal said he had dropped off the girl at the school and left for some work.

The cops were not convinced. When they examined Govind Natt's phone location details on the day of the incident, it was found that he reached school late that day. When he was grilled, the principal confessed to the heinous crime.

"He picked up the girl from her home at around 10.20 am. Her mother helped her get into the principal's car and saw her off. But she never reached the school. The school's students and teachers confirmed this. On the way to school, the principal tried to sexually assault her, and she started shouting," the senior officer said, adding that the principal choked the girl to stop her from shouting.

On reaching the school, the principal left the girl's body in his car and locked the vehicle. "Around 5 pm, he dumps the body behind the school building and plants her school bag and shoes outside her classroom. He denied this initially, but we suspected him after the technical analysis," Mr Jhala said.

Govind Natt, police have said, faces stringent charges under the Bharatiya Nyay Sanhita and the stringent Protection of Children from Sexual Offences (POCSO) Act.

State Education Minister Kuber Dindor said it was a shameful incident for the society. "I am pained by this. We were following this up for three days. We had told police to get to the bottom of this. The principal has been arrested. I condemn this incident and we will take steps to ensure such crimes are not repeated."

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