Foreign companies affected by 2G verdict can invoke investment treaties The cancellation of the Unified Access Service Licence with 2G spectrum to telecom companies by the Supreme Court is celebrated as a triumph of the rule of law over jobbery and nepotism. Amidst this celebration, it is pertinent to understand the ramifications of the ruling. Since it affects foreign companies like Telenor of Norway, Sistema of Russia, and Etisalat of the...
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Antrix-Devas deal cancelled for national security: V. Narayanasamy
-IANS The central government cancelled the Antrix Corporation-Devas Multimedia deal for reasons of national security and not for purported loss of revenue in sale of spectrum, Minister of State in the Prime Minister's Office V. Narayanasamy has said. He also said the government was not discriminating between space scientists and Indian Administrative Service (IAS) officials and, based on their culpability, punitive action would be taken against the latter too. "We did not cancel...
More »Not to grab executive powers: 2G judge by Asok Kumar Ganguly
Justice Asok Kumar Ganguly,who was part of the two-judge Supreme Court bench that delivered the 2G verdict on Thursday, has written the following article in response to The Telegraph report on Saturday that had quoted former Lok Sabha Speaker Somnath Chatterjee. The former Speaker has since said The Telegraph report had given rise to a wrong impression and his comments were strictly confined to policy, not executive decisions. “What I...
More »Rainy Days by Arti Sharma
Central pension plan NPS finally gets a boost The ‘New’ NPS Measure: Improve incentives for distributors. Has been recently implemented. Impact: Was required. But won’t be enough, need consumer education to build volumes. Proposal: Increase fund management fees with an option to lower later. Impact: Under consideration. But finance ministry unhappy with increase in costs. Proposal: Relax the norms to appoint more fund managers to increase distribution. Impact: Unlikely. At...
More »‘Google cannot use India’s IT laws as shield’ by Arpit Parashar
In the case against Google and Facebook for posting “objectionable content” on their websites, petitioner journalist Vinay Rai’s counsel H Hariharan argued in the Delhi High Court (HC) on Thursday that Google could not cite the country’s information technology laws and seek exemption from censoring content since it modified the content on its website to “generate business”. Hariharan argued that Google India could not get exemption under Section 79 of the...
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