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Bharti Infratelset to miss Oct 24 deadline to complete deal with Indus Towers
Posted on 23rd October 2019
Bharti Infratel will announce the next course of action regarding its merger with Indus Towers in the next couple of days, as the company is set to miss the October 24 deadline to complete the deal.

As per Bharti Infratel chairman Akhil Gupta, the company has received most of the government approvals except for the one pertaining to the foreign direct investment (FDI) and as a result of that, the merger cannot be completed by October 24. “The board has, therefore, authorised a committee of directors to explore and evaluate all possible options to secure the best interest of the company and shareholders under the current circumstances,” Gupta said during a post-earnings investors call.

The committee will forward its recommendations to the board on or before October 24, 2019 and based on the recommendations, the board shall take a suitable decision on the way forward. In April 2018, the merger of Bharti Infratel and Indus Towers was announced and it was set to be completed by October 24, 2019. The merger would have created the largest mobile tower operator in the world outside China.

Indus Towers is jointly owned by Bharti Infratel (42%), Vodafone (42%), Idea (11.15%) and Providence (4.85%). In the new merged entity, Airtel would have a 33.8% stake, followed by Vodafone at 26.7%, Idea 7.1% and Providence 3.1%. The public shareholders will have the rest. Since August 2018, Vodafone and Idea have merged and been christened Vodafone Idea.


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There will be Shiv Sena CM in Maharashtra, no matter what: Sanjay Raut
Posted on 15th November 2019
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.


Govt must read ‘extremely important’ dissent order in Sabarimala verdict: Justice Nariman
Posted on 15th November 2019
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.


Essar Steel case: SC clears way for ArcelorMittal to complete $1.8 bn deal
Posted on 15th November 2019
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.


Supreme Court: CJI Ranjan Gogoi's last working day today, Bar Association to organise farewell ceremony
Posted on 15th November 2019
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.


No alternative, land or money, acceptable for mosque in Ayodhya: Jamiat Ulama-e-Hind
Posted on 15th November 2019
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.

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