TRAI seeks three-month extension from SC for finalising IUC

TRAI, which is facing opposition from the new and old established telecom operators over the issues and methods adopted in consultation process to review IUC, has requested the apex court to give suitable directions over it

New Delhi: The Telecom Regulatory Authority of India (TRAI) has requested the Supreme Court for a three-month extension for completing formulation of the new Interconnection Usage Charge (IUC) regime, reports PTI.

The apex court had earlier given the TRAI four months time on 4th February for coming up with recommendation on telecom interconnection charges which expired on 4th June.

The telecom watchdog had in an application filed on Friday requested the apex court “to grant further three months time to TRAI to carry out exercise in framing IUC regulation”.

Meanwhile, the TRAI, which is facing opposition from the new and old established telecom operators over the issues and methods adopted in consultation process to review IUC, has requested the apex court to give suitable directions over it.

It has requested the apex court to “grant suitable direction regarding the procedure and method to be followed by it (TRAI) since there are difficulties/issues with regard to implementation of compliance with the directions of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) in the impugned order”.

Interconnection charges are paid by a telecom service provider for using network of other operators for transmitting and completing a call.

TRAI’s IUC regulation was widely opposed by the state run BSNL and private operators—Bharti, Vodafone, Idea, Aircel, Etisalat DB and CDMA lobby group AUSPI on various grounds.

Last month, TDSAT had dismissed the plea filed by the UK-based telecom operator Vodafone, which opposed some of the questions incorporated in IUC consultation paper of TRAI.

On 4th February this year a three-judge bench of the apex court headed by the Chief Justice SH Kapadia had directed TRAI to frame the IUC regulation afresh as per the directions of the TDSAT.

TDSAT had on 29th September last year set aside the TRAI’s Interconnection Usage Charges (Regulation), 2009 and asked the telecom regulator to bring out fresh regulations in consultations with various stakeholders.

Following this, TRAI on 27th April issued a consultation paper on IUC. However, a set of GSM companies questioned some of the issued raised in it, contending that it was not in accordance with the directions of TDSAT.

In its 2009 IUC regulation, TRAI had fixed a mobile termination charge (MTC) at 20 paise per minute for all local and national long distance charges.

It had also raised the MTC for incoming international calls to 40 paise per minute from 30 paise, while putting a ceiling on carriage fee of 65 paise per minute for domestic long distance calls.

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Omnesys, Rithmic to offer NEST users access to global derivatives exchange

Omnesys Technologies has tied up with Rithmic to provide the users of ‘Omnesys NEST’ a securities trading platform, access to and trading on major global derivatives exchanges

Bangalore-based Omnesys Technologies has tied up with the US-based Rithmic to provide the users of 'Omnesys NEST' a securities trading platform, access to and trading on major global derivatives exchanges.

By using an adapter provided by Omnesys-a provider of multi-asset trading software and systems and an Independent Software Vendor (ISV) in India-which incorporates Rithmic's R | API, the NEST platform can be connected to Rithmic's R | Trade Execution Platform, thereby providing the NEST users access to more than 15 international exchanges, Omnesys said in a statement.

Rithmic's R | Trade Execution Platform connects to BATS, Chicago Board Options Exchange, Chicago Board of Trade, Chicago Mercantile Exchange, COMEX Commodity Exchange, The ICE, New York Mercantile Exchange and NYSE-LIFFE US, among others, the company said.

Shrikant Pandit, managing director, Omnesys, said: "We have worked hard with Rithmic to provide what we believe is a very compelling offering for large financial institutions, small to medium prop desks and hedge funds to trade across multiple global markets."

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Hazare to go ahead with hunger protest despite police refusing permission

Hazare team says any attempt by police to stop peaceful protest would be a breach of fundamental rights

New Delhi: Setting the stage for a fresh showdown with the government, Anna Hazare and his supporters plan to go ahead with their hunger protest at Jantar Mantar on Wednesday, despite Delhi police refusing permission for their day-long programme.

A senior police official today said permission was not granted for the protest as prohibitory orders were in force following the action against Baba Ramdev and his supporters at Ramlila Maidan on Saturday night, PTI reports.

Police imposed prohibitory orders under Section 144 of the Criminal Procedure Code in Jantar Mantar and some other areas in the New Delhi district following the midnight action to evict Baba Ramdev and his supporters from Ramlila Maidan where they were on an indefinite protest against corruption.

Today, Arvind Kejriwal, a member of the Anna Hazare's team, said they planned to go ahead with a "very peaceful" protest and court arrest if police obstructed them. "No one can stop Anna Hazare from protesting at Jantar Mantar tomorrow," he said.

Shanti Bhushan, who wrote to Delhi Police seeking permission for the protest on behalf of the Hazare team, said they were putting police on notice that they intend to go ahead with the hunger protest and that any attempt to prevent the people from reaching Jantar Mantar would be viewed as a serious violation of fundamental democratic rights of the people.

"This is not acceptable. We appeal to the people to be calm tomorrow when they come to Jantar Mantar. We will stop wherever police tries to stop us. After that a few people could be arrested, while the others can go home," Mr Bhushan said. He said Mr Hazare's call was for a fast and this should not lead to a law and order problem.

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