Telecom major Telenor writes off Rs 3,500 crore India assets

May 1, 2012

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New Delhi, May 1: Norwegian telecom major Telenor on Monday wrote off its remaining fixed and intangible assets in India worth Norwegian Krone 3.9 billion (over $680 million or Rs 3,500 crore) saying "the uncertainty has increased significantly" following the Supreme Court's ruling in February to cancel Unitech Wireless's 22 licences and the recent Trai recommendations on the re-auction of 2G licences and spectrum.

The statement from the company came a day after the company's Asia head Siggve Brekke told TOI that Telenor was considering exiting India if the regulator's recommendations were accepted by the government in their current form.

It joins Sistema and Etisalat in taking a hit on their balance sheets due to their exposure to India. All these companies have been affected by the Supreme Court order. Etisalat had written off around $820 million of its investment, while Sistema, which like Telenor is still to announce a pullout, took a $700 million hit. So, the three companies between them have written off close to Rs 15,600 crore due to their India exposure. Telenor and Sistema have also threatened to initiate international arbitration and seek damages from the government.

The Norwegian firm holds 67% stake in Unitech Wireless which was controversially awarded licences and spectrum by former telecom minister A Raja, who is facing charges of criminal conspiracy and corruption. In February, the company had announced a write down of around $730 million, taking the total to over $1.4 billion (around Rs 7,200 crore at the current exchange rate).

"Telenor is working actively towards Indian authorities to bring forward an acceptable framework for continued operations. As a precautionary measure, Telenor ASA has decided to write down the remaining fixed and intangible assets in India amounting to NOK 3.9 billion. The write down will be included in Telenor's results for the first quarter 2012, to be presented on 8 May 2012. After the write down, Telenor has no further accounting exposure related to India as of 31 March 2012," the company said in a statement on Monday.

In a separate development a few hours later, the Telecom Commission decided to seek certain clarifications from Trai. "We wanted to understand the basis on which this reserve price has been arrived at... what is the likely impact on tariff," telecom secretary R Chandrashekhar said. A ministerial panel is also due to meet on Tuesday to discuss spectrum auction although a final view is expected around mid-May.

On Sunday, Brekke had cited various problems with Trai recommendations, including the rural rollout obligations. "In totality, if this is becoming policy, then the government is forcing us to leave. It's quite clear that it will not work for us... We are willing to write off the Rs 14,000 crore that we have invested," he had said.

Brekke's outburst coincided with petitioning done by the telecom companies to get the government to dilute the proposals. But given the controversy around allocation of scarce natural resources, such as spectrum and coal, below the market price, it is unlikely that the government will risk reducing the floor recommended by Trai.

The telecom regulator has suggested that the government start the auction with a base price of Rs 3,600 crore per megahertz, which translates into over Rs 18,000 crore for 5 Mhz, nearly 10 times higher than what Raja had charged for licence and spectrum.

Brekke was also critical of the move to auction only 5 Mhz spectrum and termed it as a "trial balloon" to set the price level for future rounds.

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News Network
March 15,2020

Bhopal, Mar 15: Madhya Pradesh Chief Minister Kamal Nath on Saturday sought the intervention of Home Minister Amit Shah for the "release" of 22 Congress MLAs in Karnataka, saying they had been held "captive" and were under "pressure".

In a letter to Shah, Chief Minister Nath said the BJP's demand for floor test had "no meaning" till the MLAs do not reach the state.

He said that the MLAs do not have any means of personal communication and all efforts to reach them have failed.

In the four-page letter, Nath said Governor Lalji Tandon had told him that the responsibility of security of those who will come to meet the Speaker should be with the CRPF but as the Chief Minister, it is his duty to ensure the security of all residents of the state including MLAs.

"I assure you that if these 22 MLAs are released by the Karnataka Police, then I will ensure maximum security by the state government so that they are able to convey their views without fear and take part in the proceedings of the assembly," Nath said.

He urged Shah to use his powers as Home Minister so that 22 MLAs safely reach Madhya Pradesh and discharge their responsibilities "without fear or greed" in the assembly session beginning on March 16."

Chief Minister Nath said that he had been informed that the MLAs had been deprived of all personal communication facilities.

He said that a father was not allowed to meet his son and two ministers who were accompanying the father of the legislator were "arrested" and manhandled by the Karnataka Police.

"My efforts to reach them as also of their relatives have failed which proves my apprehension that they are under captivity."

He said the videos released in the name of MLAs to "mislead" the people of the state were similar. "This proves that all these MLAs are under pressure and they are being forced to act in a particular way," he said.

Nath said that he was drawing Shah's attention to the developments in the state since March 3 which were aimed at destabalising the government.

He said three Congress MLAs, one BSP, and one independent MLA were taken to Gurugram and two ministers of his government were able to "rescue" the BSP legislator.

He said the three Congress MLAs and the independent MLA were later taken to Bengaluru by the BJP. He said a BJP MLA and a party functionary accompanied them.

"Later, 19 Congress MLAs were taken to Bengaluru in chartered planes and the arrangement was done by the BJP," he said, adding that they were accompanied by two former BJP MLAs and a former minister.

Kamal Nath said the number of MLAs in Bengaluru grew to 22 and they are all in the protection of the Karnataka Police.

He said some BJP leaders from Madhya Pradesh can be seen in pictures of the place where the MLAs were staying. "All reported expenses on these MLAs are being borne by the BJP," he said.

He said the BJP leaders had told the media about the resignation of MLAs and they had not presented themselves before the assembly Speaker.

Kamal Nath said he was concerned about the security of the MLAs and had written to the Governor earlier.

"You would agree with me that the demand for floor test has no meaning till the 22 MLAs are in captivity. This is unprecedented that the BJP is demanding floor test and several Congress MLAs have been kept outside the state,' he said.

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News Network
April 23,2020

Washington, Apr 23: Air pollution over northern India has plummeted to a 20-year-low for this time of the year, according to satellite data published by US space agency National Aeronautics and Space Administration (NASA).
The US space agency's satellite sensors observed aerosol levels at a 20-year low post the countrywide lockdown, implemented to slow the spread of the novel coronavirus.

"We knew we would see changes in atmospheric composition in many places during the lockdown," said Pawan Gupta, a Universities Space Research Association (USRA) scientist at NASA''s Marshall Space Flight Center. "But I have never seen aerosol values so low in the Indo-Gangetic Plain at this time of year," added Mr Gupta.

Acting Assistant Secretary of State for South and Central Asia Alice G Wells tweeted, "These images from NASA were taken each spring starting in 2016 and show a 20-year low in airborne particle levels over India. When India and the world are ready to work and travel again, let's not forget that collaborative action can result in cleaner air."

The data published with maps show aerosol optical depth (AOD) in 2020 compared to the average for 2016-2019. Aerosol optical depth is a measure of how light is absorbed or reflected by airborne particles as it travels through the atmosphere.

If aerosols are concentrated near the surface, an optical depth of 1 or above indicates very hazy conditions. An optical depth, or thickness, of less than 0.1 over the entire atmospheric vertical column is considered "clean." The data were retrieved by the Moderate Resolution Imaging Spectroradiometer (MODIS) on NASA's Terra satellite.

In the first few days of the lockdown, it was difficult to observe a change in the pollution signature. "We saw an aerosol decrease in the first week of the shutdown, but that was due to a combination of rain and the lockdown," said Mr Gupta.

Around March 27, heavy rain poured over vast areas of northern India and helped clear the air of aerosols. Aerosol concentrations usually increase again after such heavy precipitation.

"After the rainfall, I was really impressed that aerosol levels did not go up and return to normal. We saw a gradual decrease and things have been staying at the level we might expect without anthropogenic emissions," Mr Gupta said.

On March 25, the Indian government placed its 1.3 billion citizens under a strict lockdown to reduce the spread of COVID-19. The countrywide mandate decreased activity at factories and severely reduced car, bus, truck and airplane traffic. Every year, aerosols from anthropogenic (human-made) sources contribute to unhealthy levels of air pollution in many Indian cities.

Aerosols are tiny solid and liquid particles suspended in the air that reduce visibility and can damage the human lungs and heart.

In southern India though, the story is a little hazier. Satellite data show aerosol levels have not yet decreased to the same extent. In fact, levels seem to be slightly higher than in the past four years. The reasons are unclear but could be related to recent weather patterns, agricultural fires, winds or other factors.

"This a model scientific experiment," Robert Levy, program leader for NASA's MODIS aerosol products, said about the lockdown and its effects on pollution.

"We have a unique opportunity to learn how the atmosphere reacts to sharp and sudden reductions in emissions from certain sectors. This can help us separate how natural and human sources of aerosols affect the atmosphere," Mr Levy added.

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Agencies
July 30,2020

Ahead of the grand foundation stone-laying ceremony of the Ram Temple on August 5, Ayodhya priest and 16 police personnel, involved in the mega event on August 5, have tested positive for COVID-19. Priest Pradeep Das is one of the four priests who regularly perform puja at the Ram Temple site in Ayodhya.

Das has been placed under home quarantine and contact tracing is underway, reported.

Meanwhile, Uttar Pradesh police and Sashastra Seema Bal have been put on high alert in the districts bordering Nepal ahead of Prime Minister Narendra Modi's visit to Ayodhya on August 5.

PM Modi likely to launch postal stamps on Ram Temple, Ramayana during Ayodhya visit: Report
Counterfeit products create Rs 1-lakh-crore hole in economy, incidents up 24% in 2019: Report
On July 29, Uttar Pradesh reported a record single-day spike of 3,570 COVID-19 cases, taking the infection tally to more than 77,000, while 33 fresh fatalities pushed the death toll to 1,530.

"There are 29,997 active COVID-19 cases in the state and 45,807 patients have been discharged after treatment," Additional Chief Secretary, Medical and Health, Amit Mohan Prasad told reporters. "The death toll due to the disease has reached 1,530," he said.

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