Skip to main content

Supreme Court approves Sistema Shyam operation in 8 circles

The Supreme Court today cleared the way for Sistema Shyam Teleservices (SSTL) to provide its services in eight telecom circles in which it was the lone bidder for the 800 MHz spectrum.
"The applicant (SSTL) is entitled to continue services in eight circles," a bench comprising justices G S Singhvi and K S Radhakrishnan said.
SSTL's counsel Vikas Singh said there was no other bidder for the CDMA service and the company participated in the second round of fresh auction after the Department of Telecommunication reduced the reserved price.
Senior advocate P P Rao also informed the court that the auction has concluded and SSTL made the bid for eight circles and there was no competition.
Sistema Shyam (SSTL) was the lone bidder in today's auction and it bid Rs 3,639 crore for eight circles in the 800 MHz spectrum range.
The auction for 2G spectrum for GSM players held in November last year had fetched the government Rs 9,407 crore.
SSTL said it won spectrum in 800 MHz band in Delhi, Kolkata, Gujarat, Karnataka, Tamil Nadu, Kerala, Uttar Pradesh (West) and West Bengal.
With SSTL bidding for only eight circles, it will have to close operations in Mumbai, Maharashtra and UP East, where the company has over 15 lakh subscribers.
The company is a joint venture of Russia's telecom giant Sistema and India's Shyam Teleservices.
The apex court on February 2, 2012 had cancelled SSTL's 21 out of 22 licences for the 2G spectrum.

 
Sandip Ginodia
We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .


For more info and regular updates about unlisted shares and the stock market :
Follow our blog : www.abhisheksecurities.blogspot.in .
Like us on facebook : www.facebook.com/abhisheksecurities1 
Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated th...
Post a Comment
Read more

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in ...
Post a Comment
Read more

Times Internet posts 24% revenue jump to Rs 1,625 Cr in FY20

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...
Post a Comment
Read more