United Stock Exchange of India defers launch

Mumbai: United Stock Exchange of India (USE) today said that it has postponed its launch scheduled for tomorrow.

"Due to unavoidable circumstances the launch scheduled for Tuesday, 31st August, has been postponed. The new launch date is scheduled to be in September and will be announced shortly," USE said in a statement here.

The operations of the USE was to be inaugurated by finance minister Pranab Mukherjee at the BSE with operations in all four currency pairs currently allowed by the Securities and Exchange Board of India (SEBI) - dollar-rupee, euro-rupee, yen-rupee and pound-rupee.

User

RIL buys 14% stake in EIH for Rs1,021 crore

Reliance Industries Ltd (RIL), the country's largest company, said it bought a 14.21% stake in Oberoi Group company EIH Ltd for Rs1,021 crore.
RIL also said it has full faith in and would support the management of EIH and there is no change of management, operation or control of EIH.

RIL said its unit Reliance Industries Investment and Holding Pvt Ltd bought the stake from Oberoi Hotels Pvt Ltd and certain other promoters of EIH. EIH operates hotels and resorts under the Oberoi brand. The promoter and promoter group had a 46.43% in EIH prior to the deal.

On Monday, RIL shares declined 0.2% to Rs947, while EIH shares closed 11.5% higher at Rs150.7 on Bombay Stock Exchange, while the benchmark Sensex ended 0.2% up at 18,032 points.

User

COMMENTS

vvv

6 years ago

Todays corporate need to re-look moral values, as Birla group never touch this stream by principals.

God bless

amarish shah

6 years ago

so, mukesh ambani purchased non veg hotel...............

vishanav jan to tene re kahiye je pid parayi jane

god bless you

amarish shah

SC asks GSM and CDMA operators, BSNL to submit records to TRAI

New Delhi: The Supreme Court today directed parties to a carriage charge dispute, wherein telecom public sector undertaking (PSU) Bharat Sanchar Nigam Ltd (BSNL) is claiming Rs470 crore from players including Vodafone, Airtel and Tata Telecom, to submit details for verification by regulator Telecom Regulatory Authority of India (TRAI), reports PTI.

The apex court directed members of GSM operators' body Cellular Operators Association of India (COAI) and CDMA operators' body Association of Unified Telecom Service Providers of India (AUSPI) to submit records for the 12 November, 2005, to 31 March, 2009, period within two weeks.

"On receipt of CDR, TRAI would determine the amount payable at the interim stage of each of the operators towards carriage charges," said a bench comprising Chief Justice S H Kapadia and Justice Swatanter Kumar.

Moreover, the court also directed the telecom operators to submit an undertaking to pay the due amount, along with the interest fixed by the court.

The bench also directed the operators to cooperate with TRAI, while it calculated the amount to be paid to BSNL.

The apex court's direction came after it found a sharp difference between the claim of around Rs470 crore raised by BSNL and the chart submitted by COAI and AUSPI regarding their liability to pay carriage charges to the PSU.

According to the chart submitted by COAI, Vodafone has to pay Rs20 crore, Idea Rs25 crore, Airtel Rs78 crore and Aircel Rs5 crore. However, according to the PSU, Airtel, Tata Tele and Reliance alone owe Rs170 crore to BSNL.

Earlier, on 16th August, the apex court had directed private operators like Vodafone, Idea Cellular and Aircel to file affidavits stating their dues to BSNL along with a chart of their liabilities between November, 2005, and March, 2009.

BSNL levies carriage charges for forwarding calls originating from private telco networks to its own network and vice versa.

The court was hearing two petitions filed by COAI and AUSPI challenging the order of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT), which had on 21 May, 2010, set aside TRAI's direction to BSNL to charge a uniform carriage charge of 20 paise for intra-circle calls.

According to the operators, TDSAT has also set aside two letters written by TRAI on May 17, 2006, to the PSU and "wrongly allowed BSNL to levy distance-based carriage charges on the appellant instead of a uniform carriage charge of 20 paise per minute in case of intra-circle."

The lobby groups have further submitted that TRAI, in its regulation, had directed BSNL to take 20 paise as carriage charges for all calls for and from private cellular mobile networks.

"However, in violation of the said IUC Regulation, BSNL was levying a distance-based carriage charge of 65 paise, 90 paise and Rs1.10 for distance slabs of 50 to 200 km, 200 to 500 km and above 500 km respectively," the operators said.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)