Companies & Sectors
Bharti Airtel to buy Videocon's spectrum in six circles
New Delhi : Bharti Airtel on Thursday said it will acquire Videocon Telecom's radio frequency spectrum in six circles for Rs.4,428 crore in yet another deal after the government liberalised the trading and sharing of scarce airwaves among operators.
 
"Bharti Airtel has entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs.4,428 crore, the rights to use 2x5 MHz spectrum in the 1,800 MHz Band," the company said in a regulatory filing.
 
The six circles are Bihar, Haryana, Madhya Pradesh, Uttar Pradesh (East), Uttar Pradesh (West) and Gujarat. The spectrum allocation in these circles is valid till December 18, 2032.
 
This deal came a day after Idea Cellular terminated its spectrum trading agreement with Videocon Telecom for its Gujarat and Uttar Pradesh (West) circle. Bharti Airtel's stocks were trading at Rs.348.40 per share in the BSE, up 2.58 percent, at 12.40 p.m.
 
Earlier, Reliance Communications had announced that it has signed a deal for trading and sharing of airwaves with Jio in the 800 MHz band, covering virtually the entire country. A roaming deal was also on the cards.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SBI starts auction of Mallya's assets, cars
Mumbai : In an attempt to recover dues from business tycoon Vijay Mallya, the State Bank of India on Thursday initiated e-auction of the grounded Kingfisher Airlines (KFA) headquarters Kingfisher House and other movable assets, officials said here.
 
The prime property Kingfisher House, situated near the Chhatrapati Shivaji International Airport, measures around 17,000 sq feet and is being auctioned with a base price of Rs.150 crore.
 
A banner inviting bids for the e-auction was put up outside the building. Bids can be submitted till April 4. The actual auction will take place on April 6.
 
Besides, e-auction has been initiated for selling nine high-end cars like two Honda City EXi, a Honda Civic, two Toyota Camry, a Toyota Innova, a Toyota Corolla, a Hyundai Elantra and a Hyundai Santro Zip.
 
Other movable assets up for grabs include office furniture and fittings, air-conditioners and other items in the Kingfisher House.
 
The e-auction is being carried out jointly by SBICAPS Trustee Co Ltd, a subsidiary of SBI Caps through AuctionTiger.
 
Mallya owes around Rs.9,000 crore to SBI and a consortium of 17 Indian banks and the Kingfisher House was acquired by SBI a year ago in a bid to recover its dues from the defaulter Mallya, who is currently abroad.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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SEBI warns investors on fraudulent fund collections; issues list of 233 companies
Some unlisted companies are luring retail investors by issuing securities including NPS, NCDs in the garb of private placement, warns SEBI while issuing a list of 233 such entities
  
Market regulator Securities and Exchange Board of India (SEBI), while warning investors about investing money in dubious investment schemes has issued a list of 233 companies, including Sahara India Real Estate Corp Ltd and Sahara Housing Investment Corp Ltd that are fraudulently raising money from public.
 
In a release, SEBI said it has taken action against 233 such entities for issuance of securities in the form of non-convertible and convertible preference shares (NPS-CPS), non-convertible and convertible debentures (NCDs-CDs) and equity shares to public, without complying with the prescribed provisions of law. As on 15 March 2016, SEBI said it has taken action against 233 companies in such cases.
 
Majority of the companies against whom SEBI has taken action are from West Bengal, followed by Odisha and Delhi. 
 
The companies against which action has been taken include Kunnamkulam Paper Mills Ltd, SGI Research & Analysis Ltd, Prayag Infotech Hi-Rise Ltd, Vibgyor Allied Infrastructure Ltd, Kolkata Weir Industries Ltd, Ramel Industries Ltd, Regenix Drugs Ltd, Real Tulip India Ltd, Micro Leasing and Funding Ltd, Swarnabhumi Developers Ltd, SLB Invest (India) Ltd, Basil International Ltd, Greater Kolkata Infrastructure Ltd and Sukhchain Hire Purchase Ltd. 
 
Moneylife has been constantly warning investors about not investing in such fraudulent companies. Some of the companies on which Moneylife wrote include, Pailan Agro India Ltd, StockGuru India-SGI Research & Analysis Ltd, and Ramel Industries Ltd. 
 
Here is the list of companies, which have violated SEBI regulations…
 

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COMMENTS

Dr N Balasubramanian

11 months ago

What is it in West Bengal that attracts such a vast majority of breaching companies to violate regulatory norms as this SEBI list suggests? Seems to be an interesting project to study the antecedents of the promoters and directors to ascertain if there is a recognisable trend that encourages this large scale non-compliance!
Prof Bala
Dr N Balasubramanian

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