Tata Communications announces technology association with Formula One

The agreement will see Tata Communications delivering connectivity to all 20 Formula One race locations over its network

Tata Communications has announced a multi-year technology service and marketing agreement with Formula One management. The agreement will see Tata Communications delivering connectivity to all 20 Formula One race locations over its network. It will also provide hosting end content delivery services to Formula1.com, which is accessed by fans around the world.

Formula One group businesses and race locations will now be connected to the Tata Global Network (TGN) supported by secure MPLS connectivity. Its information technology infrastructure and Formula1.com will be co-located and hosted in Tata Communications’ data centres.

Vinod Kumar, MD and CEO of Tata Communications, says, “Formula One requires fast and secure connectivity, because even a split second of downtime can have repercussions for its business. This delivery is at the heart of our organisation.”

Tata Communications’ capabilities in video and content delivery networks will enable uninterrupted, high quality connectivity to the multi-media portal on Formual1.com. The TGN has trans-Atlantic and trans-Pacific data transfer capacity of one terabit per second. Its infrastructure will enable the sport’s official website to instantly scale up to cope with significant and unpredictable traffic spikes. It will also provide Formula1.com with a new Managed Security Suite and will apply an additional layer of managed security monitoring to ensure an increased level of protection to Formula One management’s IT infrastructure.

In late morning trade, Tata Communications was trading at Rs242.60 per share on the Bombay Stock Exchange, 3.12% down from the previous close.

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Gujarat Gas annual net sales grew by 31%

“The severe depreciation in the Indian rupee adversely impacted gas costs and margins temporarily in the fourth quarter,” said  Shaleen Sharma, MD, GGCL

Gujarat Gas’ (GGCL) consolidated net sales for the year 2011 increased by 31% over the previous year due to higher realisation and volume growth in the company’s high value market segments. This included the CNG (compressed natural gas) segment which grew by 14% in volume with over 32,000 vehicles converted to CNG during the year.

GGCL has a multiple source portfolio and has successfully procured significant volumes of RLNG (re-gasified liquefied natural gas) in its gas sourcing mix, which has necessitated a more dynamic pricing approach, including more frequent sales price corrections.

While sales prices in the industrial segment were revised effective 1 September 2011, the sharp depreciation of the Indian rupee by over 15% against the dollar in subsequent months has impacted GGCL’s gas cost significantly. This had a temporary impact on margins and profits in the fourth quarter until selling prices to the industrial segment were increased again effective 1 January 2012.

Consolidated net sales for the year 2011 were Rs2,382 crore compared to Rs1,814 crore for the previous year. The total volume of gas sold during the year 2011 was 1,246 million metric standard cubic metres (mmscm) compared to 1,212 mmscm in the previous year. The consolidated net sales for the fourth quarter of Rs641.5 crore were higher by 27% over the net sales of the corresponding quarter in the previous year. The volume of gas sold during the fourth quarter was 314 mmscm, as compared to 309 mmscm in the corresponding quarter of the previous year.

The consolidated profit after tax (PAT) for the year 2011 was Rs274.8 crore compared to Rs259 crore for the previous year. The consolidated profit after tax for the fourth quarter was Rs25 crore compared to Rs82.5 crore for the corresponding quarter in the previous year.

Speaking on the occasion of the results, Shaleen Sharma, MD, GGCL said, “The company’s sales margins and earnings were robust for the year 2011 and increased over the previous year. The severe depreciation in the Indian rupee adversely impacted gas costs and margins temporarily in the fourth quarter.”

In late morning trade, Gujarat Gas Company was trading at Rs389 per share on the Bombay Stock Exchange, 0.03% up from the previous close.

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2G case: Swamy moves SC against trial court order on P Chidambaram

Janata Party chief Dr Subramanian Swamy, in his appeal, contended that the special CBI court erred in its order and alleged that the then finance minister P Chidambaram was equally culpable like Mr Raja as he also had a role in deciding the spectrum pricing and allowing telecom companies to offload shares to foreign firms

New Delhi: Janata Party chief Dr Subramanian Swamy on Thursday moved the Supreme Court challenging the trial court order giving clean chit to home minister P Chidambaram in second generation (2G) spectrum allocation scam, saying that there is no doubt that the then telecom minister A Raja took the decision on spectrum allocation after consulting him, reports PTI.

Dr Swamy, in his appeal, contended that the special CBI court erred in its order and alleged that Mr Chidambaram was equally culpable like Mr Raja as he also had a role in deciding the spectrum pricing and allowing telecom companies to offload shares to foreign firms.

“In view of the certified copies brought on record which make it absolutely clear that while the respondent (Raja) may indeed not have consulted the officers of the finance ministry, there is no doubt that he certainly did consult the finance minister in regard to spectrum pricing at least up to the final decision in June 2008,” Dr Swamy said in his petition.

He said the evidence brought before the trial court was sufficient to show that Mr Chidambaram, as the then finance minister, had prima facie committed offences under the Prevention of Corruption Act and other criminal laws.

“The special judge erred in that, despite having made a definite and detailed finding based on his documentation, that Mr Chidambaram was party to two decisions, that is, keeping the spectrum prices at 2001 level and dilution of equity by the two companies, nevertheless the judge held that these two acts are not per se criminal, and hence he rejected plea for making Mr Chidambaram, an accused in the trial of the 2G spectrum scam,” the petition said.

“Once the fact of Mr Chidambaram’s participation in these two crucial decisions is accepted (as has been done by the special judge) it became his duty to direct investigation into the role of Mr Chidambaram,” the petition said.

Dr Swamy’s plea was rejected on 4th February by the special CBI court, trying the 2G case, which had said Mr Chidambaram did not indulge in any criminal conspiracy or derive any pecuniary advantage in the decisions taken with Mr Raja.

The trial court had said that Mr Chidambaram, the finance minister at the time of controversial allocation of 2G spectrum in 2008, was only party to two decisions—keeping spectrum prices at 2001 level and dilution of equity by two companies—which was “not per se criminal”.

The Supreme Court had on 2nd February left on the special court to decide the plea to try Mr Chidambaram in the case.

The trial court had rejected the private criminal complaint filed by Dr Swamy, saying it was without merit.

It said Dr Swamy could not bring evidence on record to show that Mr Chidambaram was acting with a ‘corrupt’ and ‘illegal’ motive and the case against him was distinguishable from other accused who are facing trial in the 2G case.

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COMMENTS

Knowyourswamy

5 years ago

www(dot)knowyourswamy(dot)blogspot(dot)com

kshitishree

5 years ago

* Dr Swamy filed petition before trial court for making Chidambaram as co-accused in 2G scam, for establishing prime-facie whether Chidambaram had involved in crime or not, he submitted certain documents, which establishes Chidambaram is a party to decision in which govt. given radio waves licenses to certain private firm in 2008 with 2001 prices, policy adopted was first come first service basis, trial court judge O.P.Saini accepted the fact that Chidambaram is party to a govt. decision. As per CrPC next step shall be, he could have sought an investigation in to the matter, only after investigation, criminal culpability of Chidambaram if any could have been established, without investigation report dismissing the petition at this stage, on 4th February in 2012 is highly erroneous. Collecting the evidence is the job of investigating agency/prosecuting authority, not the duty of complainant, in this case prosecuting authority is Govt. of India, accused is Home Minister in Govt. of India. CrPC only empowers criminal investigating powers to police, in this case CBI, not to petitioner. The CBI u/s 161 CrPC has to record the statements of persons supposed to be acquainted with the facts and circumstances of the case. In 2G scam case CBI not even recorded statement of Chidambaram u/s 161 CrPC. The same CBI had recorded statements of former Telecom Minister and former Finance Minister i.e. Arun Shorie and Jaswant Singh respectively. Both were Ministers before 2004, where as the crime occurred in 2008. Hence free and fair investigation by CBI shall only possible if P. Chidambaram steps down as Union Home Minister.
* In October 2011, Mr. Chidambaram told India Today magazine: “Even after the 121 letters of intent were issued on January 10, 2008, the Ministry of Finance continued to argue that auction was legally possible, explored alternatives to auctions in view of DoT's objections and suggested updating the entry fee, adopting one of two methods that would yield an additional Rs. 3,028 crore or Rs. 3,400 crore per licence which could be charged up front when the licensee applied for additional spectrum beyond the start-up spectrum. For a moment assume if Chidambaram is right, govt. would have got sum of Rs 4,11,400 crores as revenue. With above statement of Chidambaram proves beyond reasonable doubt that the CAG estimated loss of revenue i.e. Rs 1,76,379 crores right and conservative assessment. Judge Saini, in his February 4 Order, arrived to a conclusion that Chidambaram infact agreed with Raja not to revise or revisit the entry fee or spectrum charge as discovered in 2001. Judge Saini's conclusion supports that the Prime Minister, who, on February 24, 2011, told the Rajya Sabha that the two ministers had agreed on spectrum pricing. Therefore, there is indeed an agreement between Chidambaram and Raja. Judge Saini also finds that, Chidambaram was party to two decisions, that is keeping the spectrum prices at 2001 levels and dilution of equity by the two companies. The Supreme Court does not treat the Swan and Unitech transactions as mere equity dilution or capital infusion. Instead, it affirms that the Swan and Unitech transactions were windfall gains, stating: “This becomes clear from the fact that soon after obtaining the licences, some of the beneficiaries offloaded their stakes to others in the name of transfer of equity or infusion of fresh capital by foreign companies and thereby made huge profits.

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