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The NSEL-FTIL merger case will come up for hearing today at the Bombay High Court. FTIL is opposed to the Government’s merger plan as it contends that the forced merger would violate the concept of limited liability. Also, the forced merger of NSEL with FTIL will be without the consent of the stakeholders, including shareholders and creditors, of both the companies, according to FTIL. However, the Government has defended its decision to merge the two entities and maintained that it will not hurt minority shareholders.
Taxi and auto rickshaws unions in Delhi are planning an indefinite sit-in strike in front of the Delhi secretariat from today. They have been demanding action against app-based cabs in the city. There are around 13,000 black-yellow taxis and over 80,000 auto rickshaws plying on the streets of the national capital.
Minister of State for Communications Manoj Sinha will meet CEOs of telecom operators today. Call drops, upcoming spectrum auctions and spectrum usage charges are expected to be the focus areas of discussion. This is Sinha’s first meeting with the operators after his induction as minister earlier this month.
Sony will launch the Xperia XA Ultra smartphone in India today. The XA Ultra packs a 21.5-megapixel rear camera and a 16 MP front camera. Sony's latest smartphone will compete in the same space as the OnePlus 3 and Xiaomi Mi 5. Sony unveiled its X series smartphones at the Mobile World Congress in February.
Prime Minister Narendra Modi will inaugurate the second phase of the hi-tech museum at the Rashtrapati Bhavan today in the presence of President Pranab Mukherjee. Today's inauguration marks the completion of the project spread across 10,000 sq m. The first phase was opened to the public in 2014. The museum, established at the erstwhile stable of Rashtrapati Bhavan that earlier housed horses and ceremonial coaches, is expected to be an immersive story-telling experience with the history of the building narrated through sound-light-video animations.
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