Amazon deforestation hits highest level in 5 years

New Delhi, Jun 18: Vodafone Idea on Thursday told the Supreme Court that it has incurred Rs 1 lakh crore losses as it insisted it is not in a position to furnish bank guarantees.

A bench comprising Justices Arun Mishra, S. Abdul Nazeer, and M.R. Shah, taking up the adjusted gross revenue (AGR) matter through video conferencing, directed the telecom companies to submit their financial documents and books for the last 10 years.

Asking Vodafone if it was a foreign company, the bench said that how can the company say it would not furnish any bank guarantee.

"What if you fly away overnight in future without paying anything?" it asked.

Senior advocate Mukul Rohatgi, representing Vodafone Idea, denied his client is a completely foreign firm and cited before the bench its tie-ups and investments.

Vodafone owes over Rs 58,000 crore as AGR dues and so far, has paid close to Rs 7,000 crore.

Rohatgi contended before the court that the telecom company is in a tough situation, and cannot furnish any fresh bank guarantee, as profits have eluded the company in past many quarters. He submitted before the bench that Rs 15,000 crore bank guarantees are lying with the government, and his client's losses are over Rs 1 lakh crore.

"I cannot offer any more surety," he informed the bench.

Justice Mishra noted that this is public money and these dues should be recovered. "Do not tell us that you will pay if you were to make profits... the money must come," he noted.

Justice Shah observed that the telecom industry is the only industry which earned during the Covid-19 pandemic. "After all, this money will be used for public welfare", he said.

Rohatgi argued that his client would have to fold up if orders were issued to clear dues tomorrow. "11,000 employees will have to go without notice, as we cannot pay them," he added.

Senior advocate Abhishek Manu Singhvi, appearing for Bharti Airtel, contended before the court that out of Rs 21,000 crore AGR dues, the company has already deposited a sum of Rs 18,000 crore.

He argued that his client has given a bank guarantee, in excess of demand, to DoT, and supported the proposal for phased repayment of remaining AGR dues. He insisted that the company needs to sit down with the government and calculate the dues. Airtel owes Rs 25,976 crore after paying Rs 18,000 crore, as per the government.

Senior advocate Arvind Datar, representing Tata Telecom, informed the bench that his client has paid Rs 6,504 crore in AGR dues so far, and furnishing a bank guarantee may adversely impact investments in the sector.

The total AGR dues are close to Rs 1.5 lakh crore.

The top court will now take up the matter in the third week of July.

New Delhi, Apr 17: The Indian Railways turned 167 years old on Thursday and for the first time ever, its trains did not carry any passengers on its birthday and instead stood idle in the yards waiting for the nationwide lockdown to end.

On this day 167 years ago, the wheels of the first passenger train in the country from Mumbai to Thane started rolling.

In 1974, Indians experienced life without trains for the first time. In May 1974 during the strike of the railways that lasted for around three weeks, drivers, station masters, guards, track staff and many others went on 'chakka jam' demanding fixed working hours for train drivers and an across-the-board pay hike.

"I can recall those times vividly. I remember that our leader George Fernandes had almost secured a deal with the then railway minister, but it fell through when it was taken to the then Prime Minister Indira Gandhi," All India Railwaymens Federation General Secretary Shiv Gopal Mishra, who was an apprentice in the railways at that time, told PTI.

"Fernandes was arrested in Lucknow. The workers went through a lot at that time. But those were days that angry workers had refused to give in and took great risks to get their demands met," he said.

However, just like this time, four decades ago too freight trains carrying essential supplies were run and the unions agreed to let some passenger trains run on the trunk routes like the Kalka Mail from Howrah to Delhi.

"Never ever in its history, there has been such a long interruption of services. Not during the World Wars, not during the 1974 railway strike, or any other national calamity or natural disaster," a railway spokesperson said.

The first Indian Railways passenger train was flagged off on April 16, 1853, from Mumbai to nearby Thane.

On Thursday, the Railway Ministry wished the railways a happy birthday on Twitter - "Today, 167 years ago with the zeal of 'never to stop' the wheels of the first passenger train from Mumbai to Thane started rolling. For the first time, passenger services are stopped for your safety. Stay indoors & make the nation victorious," it said.

Railway has suspended all passenger services since March 25 till May 3 due to the coronavirus outbreak. Around 15,523 trains run by the railways have been affected including 9,000 passenger trains and 3,000 mail express services which are run daily. It caters to over 20 million passengers every day.

According to the Union health ministry, the death toll due to coronavirus rose to 414 and the number of cases to 12,380 in the country on Thursday.

New Delhi, Mar 14: Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.

Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.

Additionally, road cess on petrol was raised by ₹1 per litre each on petrol and diesel to ₹10.

The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices.