Business

Overnight Payment Of Dues? Vodafone Will Have To Shut, Says Firm's Lawyer Mukul Rohatgi
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Overnight Payment Of Dues? Vodafone Will Have To Shut, Says Firm’s Lawyer Mukul Rohatgi

Vodafone Idea has made a loss of over 2 lakh crores over the last decade and will have to shut shop if it has to pay all its dues to the government overnight. This would make 10,000 people jobless and inconvenience 30 crore subscribers, Mukul Rohatgi, the senior counsel for the company, told NDTV on Monday. It would also have an effect on the whole telecom sector, wiping out the competition and leaving only two firms, he added.

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RIL TV18, Hathway and DEN to merge into Network18
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RIL consolidates media biz: TV18, Hathway and DEN to merge into Network18

Mukesh Ambani-led Reliance Industries (RIL) on Monday said it was consolidating its media and distribution business spread across multiple entities into Network18. This will pave the way for a Rs 8,000-crore company, second only to Star India, now acquired by Disney, which remains the largest media company in the country with revenue of Rs 12,341 crore (in 2018-19).

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Telcos Pay Part Of Government Dues, RBI Flags Fresh Concern
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Telcos Pay Part Of Government Dues, RBI Flags Fresh Concern

New Delhi: Debt-ridden telecom firms have paid part of the Rs 1.47 lakh crore they owe to the government as the Reserve Bank expressed concern today about the possibility of their defaulting on bank loans. Bharti Airtel made a payment of Rs 10,000 crore today. Vodafone Idea and Tata Group have already paid their share. The telecom companies — which have been struggling with huge losses — paid up after the Supreme Court warned that their bosses could be accused of contempt and ordered them to appear in court today. In a hearing last week, the court had ripped into the firms and the government over the dues remaining unpaid despite its order. Finance minister Nirmala Sitharaman said she would get in touch with the telecom department and find out what position it wants to take on the arrears.

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