Levelling charges against TRAI of "tilting the playing field" and newcomer Reliance Jio of bypassing regulations, existing operators' body COAI has sought meetings with the Prime Minister's Office as well as the Telecom Minister to raise these issues with them.
Faced with charges of "bypassing regulations" by cellular operator association COAI, the Mukesh Ambani-led Reliance Jio today hit back by saying the claims are "malicious, unfounded, ill-informed and frivolous" and have been made with "ulterior motive" of promoting vested interests of incumbent operators.
Singalling more consolidation in the cluttered life insurance space, HDFC and Max groups Monday decided to merge their life insurance businesses to create the biggest private life insurer with combine asset base of Rs 1.1 lakh crore in a complex multi-stage share swap deal.
The tax rate under the GST regime will be kept at "minimum workable rate" as no state government can annoy its people by having a higher rate, Finance Minister Arun Jaitley said Monday in the Lok Sabha which passed the historic legislation to amend the Constitution.
Delhi High Court on Monday sought the Centre's response on telecom major Bharti Airtel's plea seeking refund of over Rs 2,500 crore, which includes disputed licence fees of Rs 399.92 crore paid by it for its Punjab circle for 1996-98 and interest on the amount.