10 July 2013

Telecom mergers and acquisitions details by month end

Government plans to announce the long awaited mergers and acquisitions guidelines by this month end, paving the way for consolidation in the telecom sector.before 31st of July that policy will be in place, the guidelines for mergers and acquisitions," Law and Telecom Minister Kapil Sibal said on the sidelines of Assocham's roundtable on Legal System.

Indian telecom sector has at present around 13 mobile phone service providers with some of them expected to go for consolidation once the final guidelines are in place.

Flipkart raises $200 million in single-largest round of funding in Indian e-commerce space

Online retailer Flipkart has raised $200 million, or about Rs 1200 crore, from its existing investors in a deal that marks the single-largest round of funding for an Indian e-commerce company.

MIH, a part of the South African Internet major Naspers, New York-based hedge fund Tiger Gobal, Accel Partners and San Francisco-based family office, Iconiq Capital, participated in this latest deal.

Donald Trump to launch first real estate project in Pune

America's real estate business tycoon and celebrity Donald Trump has announced his company's first Indian project, a 22-storied residential twin towers in Pune having 44 luxurious single-floor condominiums.

Educomp extends gain; stock up 10% on debt restructuring plans

Extending a sharp rally for the second straight session, shares of Educomp SolutionsBSE 8.32 % today jumped nearly 10 per cent, after the company initiated discussions with its lenders and approached corporate debt restructuring forum to rejig its rupee debt.

Infosys global sales head Basab Pradhan resigns

InfosysBSE 0.29 % Technologies global sales head Basab Pradhan has resigned from the company in the first top-level departure after the return of NR Narayana Murthy, who was recalled as executive chairman in June.

SC notice to Centre on age of consent for sexual relations

The Supreme Court on Wednesday issued notice to the Centre on a PIL seeking a direction for fixing the age of consent of a wife at 18 years for having sexual relations with her husband. Agreeing to hear the PIL, a bench headed by Justice K S Radhakrishnan sought response from the Centre on the issue.

The court passed the order on a petition filed by an NGO, iThought, seeking its direction for amendment of section 375 (rape) of the Indian Penal Code which makes an exception on age of consent of the wife for sexual relations with her husband.

The exception in section 375, which was recently amended by the Criminal Law Amendment Act of 2013, states that "sexual intercourse or sexual acts by a man with his own wife, the wife not being under 15 years of age, is not rape."

Canadian High Commission condemns Bodh Gaya blasts

The Canadian High Commission has condemned the terror strike in the temple town of Bodh Gaya, and called for those responsible to be brought to justice.

"Canada is shocked at this wanton act of terrorist violence against one of Buddhism's most important sites. Assaulting a place of pilgrimage, reflection and peace has a particularly evil dimension and cannot be tolerated," said Andrew Bennett, Canada's Ambassador for Religious Freedom, and Jim Nickel, Acting High Commissioner for Canada to India,

Mahela is first to take 200 catches

Mahela Jayawardene, with Shikhar Dhawan's catch, is the first fielder to complete 200 catches in ODIs.

Tatas asked to make stand clear on Singur land issue

The Supreme Court on Wednesday asked Tata Motors to make its stand clear on its leasehold rights over the Singur land in the wake of changed scenario as the company had already moved its car plant out of West Bengal.