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
November 1,2024

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Bengaluru, Nov 1: Hardline BJP leader and Vijayapura MLA Basanagouda Patil Yatnal wrote a letter to Prime Minister Narendra Modi to "Nationalise Waqf Assets", alleging Waqf board of "blatant violation" in claiming of the lands of Farmers, temples and mutts.

Taking to his social media, Basanagouda Patil Yatnal posted on X, saying "I have written a letter to the hon'ble PM Shri Narendra Modi ji to Nationalize the Waqf Assets in view of the arbitrary, blatant violation in claiming of the lands of Farmers, Landowners, Temples, Trusts and Mutts across the country by the Waqf board. All the citizens of the country have equal rights on the land. If the motive of Waqf is welfare and social service, this has to be done without bias and religious discrimination as India is a secular nation."

Additionally, Vijayapura MLA also attached the letter to Prime Minister Narendra Modi in his post.

Earlier, BJP MP Tejasvi Surya had accused the Waqf Board of encroaching on thousands of acres of farmers' lands with the support of the Karnataka government.

Surya stated, "There have been multiple press conferences and videos in the public domain where the Minister himself has admitted that these Waqf adalats are being conducted under the Chief Minister's instructions. This is a grave matter, where thousands of acres of farmers' lands are being encroached upon by the Waqf Board with the active support and collusion of the State Government."

He mentioned that, in recent days, farmers from various districts across Karnataka have reported that, without prior notice, ownership of their lands has been abruptly transferred to the Waqf Board.

Karnataka Minister Priyank Kharge criticised BJP MP Tejasvi Surya, claiming he has done nothing for Bengaluru. Kharge's remarks came in response to the BJP MP's accusations regarding Waqf Board land encroachment.

The Congress leader assured that the Karnataka government is committed to protecting farmers' properties.

Kharge further questioned the BJP's record on protecting temples during its previous government, stating that the Karnataka government is committed to safeguarding temples and common people's properties.

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News Network
November 4,2024

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Bengaluru: In a chilling case of moral policing gone violent, three men have been arrested for the brutal murder of a 21-year-old college student at a farmhouse near Bengaluru. The accused, identified as Chandru, Nagesh, and Murali from Honnapura, allegedly killed the student, Punith, following an altercation.

Punith, a BCom student at a private college, had gone to the Chikkenahalli Farmhouse on October 26 with seven classmates, including two women, for a casual outing. According to police reports, the group was enjoying their time when the accused, all locals, became aware of the gathering.

At around 10:30 pm, the three men stormed the farmhouse and began recording videos of Punith’s female classmates, who were in the swimming pool. They verbally abused the students, questioning their presence and demanding to know who had permitted them to use the farmhouse.

When Punith protested against their actions, the situation escalated violently. He was viciously attacked with a wooden log, sustaining severe head injuries. Punith was rushed to a nearby hospital but succumbed to his injuries three days later. Another student, Likith, was also assaulted but suffered only minor injuries.

The Ramanagara Rural police have registered a case of murder against the suspects, who are now in custody. Further investigations are ongoing.

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News Network
November 10,2024

Bengaluru: The Karnataka government has warned that disciplinary action will be taken against those officials who change the land mutation records and serve eviction notices to farmers under the Waqf Act.

In a letter, the Revenue Department Principal Secretary Rajender Kumar Kataria reminded all regional commissioners and deputy commissioners in the districts that Chief Minister Siddaramaiah recently had a meeting following complaints about certain land properties being made in favour of the Karnataka Board of Waqfs.

In the meeting it was decided that all the directions issued previously by any government office or authority to change the mutation records has been withdrawn, the letter said.

It added that all the notices served in the past have also been withdrawn and no action should be taken against the farmers who are cultivating on the said land.

On the directions of the chief minister, the previous letters and the latest reminders served on November 7 to the farmers and land owners have been withdraw, the letter said.

"The officials who served reminder-2 despite the chief minister's direction will face appropriate disciplinary action," Kataria said in his letter.

He said he has been instructed to strictly implement the chief minister's direction.

The fresh direction was issued in poll-bound Karnataka, where bypolls to three crucial assembly segments are due on November 13.

Some farmers in Honwad village in Vijayapura in north Karnataka had alleged last month that they were served eviction notices as the Waqf Board claimed rights over it.

Subsequently, complaints started in pouring in from some other parts of the state.

BJP leader Tejasvi Surya on October 25 alleged that Karnataka Waqf Minister B Z Zameer Ahmed Khan directed the deputy commissioners and revenue officials to register lands in favour of the Waqf Board within 15 days, which resulted in confusion.

On Surya's request, the Chairman of the Joint Committee of Parliament on the Waqf (Amendment) Bill, Jagdambika Pal visited Karnataka on November 7 and met farmers in Hubballi, Vijayapura and Belagavi districts who had alleged that their lands were marked as Waqf properties.

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