The adverse fallout of huge losses posted by telecom majors Vodafone Idea and Bharti Airtel in the second quarter, on provisions made for dues in adjusted gross revenue (AGR), has left commercial banks nervous.

Bankers said that at present, both operators are current in their repayments. However, the concern is over the future debt repayment capacity in case these entities take more debt to finance operations and meet repayment obligations.

The telecom sector’s woes continued to deepen after the Anil Ambani-led Reliance Communications posted Rs 2,733 crore in pre-tax loss for the June-September quarter and Rs 30,147 crore in net loss for the same period, after accounting for adjusted gross revenue (AGR) provisions.

The company had reported Rs 338 crore in losses for the June quarter (Q1), and a profit of Rs 1,295 crore in Q2 last year. It reported Rs 305 crore in revenue, down from Rs 866 crore in Q1.

In the ongoing political slugfest over government formation in Maharashtra, Shiv Sena leader Sanjay Raut said that no one can stop the party from acquiring the Chief Minister post.

In a press conference, Sanjay Raut said that there will be a Shiv Sena CM for next 25 years, emphasizing strongly on the fact that Shiv Sena will be leading Maharashtra no matter what.He also said that Shiv Sena is the biggest party in Maharashtra and will stay here forever.

Justice R.F. Nariman of the Supreme Court on Friday said the government must read the “extremely important dissent” order in the Sabarimala case.

Justice Nariman had penned the dissent order on behalf of himself and Justice D Y Chandrachud.

ArcelorMittal won approval from India’s top court to complete its $5.8 billion purchase of a bankrupt steel mill, clearing the way for tycoon Lakshmi Mittal to enter the world’s second-biggest market.

The Supreme Court allowed Arcelor to make the payment for Essar Steel India Ltd. and set aside a bankruptcy appellate tribunal’s order that had given secured and unsecured creditors equal right over the sale proceeds.

Chief Justice of India (CJI) Ranjan Gogoi is set to formally retire from his post on November 17, but today, i.e. November 15 is his last working day at the Supreme Court, marking which the Supreme Court Bar Association will organise a farewell ceremony this evening.

CJI Gogoi sat with Chief Justice designate Sharad Arvind Bobde in Court 1, according to tradition, and issued notices in all the 10 cases listed in the Court today for today. He also thanked all the lawyers who addressed him in his honour.

A key litigant from the Muslim side in the highly-sensitive Ayodhya Ram Janmabhoomi-Babri Masjid title dispute case — the Jamiat Ulama-e-Hind (JuH) — has decided to not accept the alternate five-acre-land mandated by the Supreme Court to build a mosque, adding that no 'alternative' to a mosque in Ayodhya, be it money or land, is acceptable. They also added that a five-member fact-finding committee, representing the JuH, will seek legal opinion on the matter, and will even consider going for a review of the SC verdict.

A seven-member Inter-Ministerial Central Team is in Odisha to assess the damage caused by cyclone Bulbul. The team will visit Bhadrak, Jagatsinghpur, Kendrapara and Balasore districts to evaluate the extent of damage and submit a report to the Centre, officials said. Soon after arriving here on Thursday, the team led by Saheli Ghosh Roy, Joint Secretary (CIC), Ministry of Home Affairs, visited some of the affected areas at Chandbali in Bhadrak district.

A day after a meeting of Nationalist Congress Party (NCP) and Congress to discuss a Common Minimum Programme (CMP) for a coalition government with the Shiv Sena, the three parties got together on Thursday for the same.

The leaders of the three parties have finalised the draft of CMP for a coalition government in Maharashtra after several rounds consultations over the last two days and the same will be submitted to their respective party presidents.

Union Minister Nitin Gadkari on Thursday, while asked to comment on the ongoing political crisis in Maharashtra, made an interesting analogy between politics and the game of cricket, highlighting the fact that in both, a scenario can be unpredictable and the future can change in ways that were not foreseen earlier.

Anything can happen in cricket and politics. Sometimes you feel you are losing the match, but the result is exactly the opposite, Nitin Gadkari was quoted as saying by news agency ANI on Thursday.

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