HR experts said the office atmosphere in India may be uncomfortable for Chinese employees, especially with the border skirmishes coming on the heels of the outbreak of Covid-19, which originated in China.
Reviving the business of the company to your previous level seems almost impossible. There were 75 million subscribers in Aircel, who have given up your connection and to restart the telecom services, a huge amount of capital is required. The environment is also not conducive, because the existing players are also struggling.
The DoT has also offered to withdraw 96 per cent of its claims against the PSUs.
Four leading cellphone and electronics retail chains said consumer sentiments towards Chinese brands have not changed since they perceive them to be value for money and good quality. A senior executive with a leading e-commerce marketplace said there is no dip in sales of the Chinese smartphone and electronic products.
The rule currently is to accept a bank guarantee, but the department is aware that not accepting anything else — such as spectrum — could well push Vodafone Idea into bankruptcy, threatening mobile phone connections of some 300 million plus customers and thousands of jobs.
“Legal help will be sought over the next couple of days. The DoT has the option of telling the apex court that going by the observations, the department has decided to withdraw the demand of AGR dues and file it with the court or just file a clarification on why the demand was raised and then await further orders,” said the government official.
Vodafone Idea has claimed inability to pay the dues due to its precarious financial state.
Asset reconstruction firm UVARCL was the shortlisted buyer for Aircel's assets and according to people aware, NCLT's Mumbai bench approved the plan but with some modifications. Aircel, which declared bankruptcy in March 2018, for failing to repay debt of Rs 20,000 crore had received claims worth Rs 20,000 crore from lenders and a claim for a similar amount from operational creditors.
There is a lot of pent-up consumer demand for digital services and India is at an inflection point: KKR executives
Over the last couple of years, Jio really built one of the most modern, scalable and cost-efficient telecom infrastructures in the world. Even though Jio a telco business at its core, it is built on best-in-class technology that has allowed them to ramp up and scale very efficiently, said KKR's Head of Technology Asia - Lucian Schönefelder.
There is a clear signal that the cash-strapped telco is preparing to stay and fight in the market.
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