208

Centre's telecom relief package, From moratorium on dues to rationalising AGR

The Union Cabinet officially approved a broad-based relief package for the telecom sector on Wednesday. The package is expected to provide much-needed relief to ailing telecom service providers that are struggling with high levels of debt.

A total of 9 structural and 5 process reforms have been approved by the Union Cabinet. Each one is aimed at reducing the burden on struggling telcos.

Union minister Ashwini Vaishnaw said the reforms are will change the framework of the telecom sector.

Here is a look at the key telecom sector reforms approved by the Union Cabinet:

193

Tobacco giant to buy a company that makes asthma inhalers

A UK business that makes products to treat lung problems might end up in the hands of one of the world's largest cigarette manufacturers, prompting health organisations to call on the British government to oppose the deal. 

The tobacco firm that created the Marlboro man has stirred uproar in medical circles with a move to invest in a business that develops inhaler technology, potentially allowing it to profit from the smoking-related lung ailments it helped create.

Philip Morris International is in the process of acquiring Vectura, a UK company that specialises in lung disease inhaler technology.

Experts in Australia warn it could jeopardise studies and compel doctors to rethink how they treat some lung disease patients.

178

ZEE investor seeks to remove MD Punit Goenka; calls for an EGM

Zee Entertainment Enterprises’s shareholders Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund llC have called for a extraordinary general meeting (EGM) of shareholders seeking to remove Punit Goenka, MD, ZEEL, from the board along with two independent directors–Ashok Kurien and Manish Chokhani. Invesco and OFI Global China Fund IIC have put forth Surendra Singh Sirohi, Naina Krishna Murthy, Rohan Dhamija, Aruna Sharma, Srinivasa Rao Addepalli and Gaurav Mehta’s names for the position of Independent directors of the board.

163

Zomato to scrap its grocery delivery service from September 17

Online food delivery platform Zomato will stop its grocery delivery service from September 17 due to gaps in fulfilling the orders, which, in turn, is leading to poor customer experience. Instead, the company believes, that its investment in Grofers will help generate better outcomes for its stakeholders than putting in efforts into its in-house grocery services. In an email to its grocery partners, Zomato told PTI that the company wants to terminate its pilot grocery delivery service soon as it doesn't think the current model is serving them the best way possible to deliver service to their customers.

The mail by Zomato said that the company believed in delivering the best services to its customers and the largest growth opportunities to their merchant partners. But the current model was not proving to be the best way to deliver services. Zomato made it clear that the company wanted to scrap its pilot grocery delivery service from September 17, 2021.

133

Delhi HC notice to Centre in plea against GM soya cake import

Delhi High Court on Friday issued a notice to the Centre on a petition challenging the government decision to allow import of 12 lakh MT of genetically modified (GM) de-oiled and crushed soya cake. However, the court declined to stay the August 24 government notification issued in this regard.

The division bench of Chief Justice D N Patel and Justice Jyoti Singh, while listing the petition filed by Dattaguru Farmer Producer Company Limited for next hearing on Oct 22, said many people may have already placed orders and that any interim stay would have consequences on commercial transactions.