Idea's proposal seeking 100 pc FDI under consideration of DIPP

NEW DELHI: Idea Cellular Ltd's proposal to allow up to 100 per cent foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion (DIPP), an official said.The proposal assumes significance against the backdrop of pending merger of Idea Cellular Ltd and Vodafone India to form the country's largest telecom operator.The present foreign direct investment policy allows an overseas firm to buy up to 49 per cent stake in an Indian telecommunication company under automatic approval route. But government's approval is required for stake above 49 per cent.Idea and Vodafone in 2017 announced that they would combine their operations to create the country's largest telecom operator worth over USD 23 billion, with a 35 per cent market share Foreign share holding in Idea as on March 31, 2018, stood at around 34 per cent, including 7.49 per cent in promoter group and the rest as public shareholders. "We have received the proposal from the Department of Telecommunications. As the department has added a condition in the proposal, the matter has been referred to the DIPP. It is under consideration of the department," a government official said.The telecommunications department is awaiting the views of the DIPP on raising foreign direct investment limit in Idea Cellular Ltd to 100 per cent, before approving its merger with Vodafone India.

April 22, 2018 05:26 UTC

AI flight faces turbulence; leaves 3 passengers injured, window panel comes off

NEW DELHI: In a nightmare for over 240 air passengers, an Air India flight from Amristar to the national capital last week experienced turbulence leaving at least three people with minor injuries and causing a window panel inside the aircraft to break away, according to four airline officials.Besides Air India, aviation regulator Directorate General of Civil Aviation ( DGCA ) and Aircraft Accident Investigation Board (AAIB) are probing the incident, which happened on April 19 soon after the flight took off from Amristar, one of the officials said.The duration of Amristar-Delhi flight is about 35 minutes and on April 19, the flight was full with over 240 passengers, another official said.The officials said the flight experienced turbulence soon after take-off when the altitude was around 15,000 feet due to bad weather.At least three passengers had minor injuries and were given first aid after landing at the Delhi airport. Later, they took their connecting flights for onward journey, they dded.A window panel inside the plane also came off when the flight experienced turbulence, the officials said.According to the officials, the turbulence continued for around 10-12 minutes.There was no official statement from Air India about the incident.A purported 50-second long video clip of happenings inside that flight showed an air hostess trying to fix the window panel that came off and pacifying an elderly woman passenger seated on that particular window seat. The video clip has been circulated in WhatsApp groups and social media platforms.

April 22, 2018 05:02 UTC