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NCLAT disposes of DoT petition against Videocon resolution plan

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NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Tuesday disposed of a petition filed by the Department of Telecommunications challenging the Rs 2,962-crore takeover bid by Anil Agarwal’s Twin Star Technologies for Videocon Industries.

A two-member bench observed that the appellate tribunal earlier this month had already set aside the June 8 order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) approving Twin Star’s bid and remanded the matter back to the Committee of Creditors (CoC) of Videocon.

“Counsel for the parties agreed that this Appeal be also disposed off in terms of the judgment dated 05.01.2022. The Appeal is allowed in terms of the judgment dated 05.01.2022 ,” the NCLAT said.

Earlier on January 5, the NCLAT set aside the NCLT order after observing that the approval to the takeover plan was “not in accordance with” Section 31 of the Insolvency and Bankruptcy Code (IBC) and quashed “the approval of Resolution Plan by the Committee of Creditors (CoC) as well as Adjudicating Authority (NCLT)”.

NCLAT had asked the creditors to initiate fresh sale of Videocon, a consumer durables company manufacturing products ranging from air-conditioners to washing machines, for recovery of their unpaid dues of Rs 64,637.6 crore.

The appellate tribunal’s order had come over petitions filed by dissenting creditors Bank of Maharashtra, SIDBI and IFCI Ltd.

The Department of Telecommunications (DoT) had also challenged the NCLT order before the appellate tribunal and submitted that defaulting telecom firms cannot be permitted to wriggle out of their liability by the triggering of the corporate insolvency resolution process.

One of the group firms, Videocon Telecommunications, in order to carry on business as per the licence agreement for Unified Licence (Access Services) had secured dues with as many as 131 bank guarantees from SBI in favour of DoT to the tune of Rs 881.92 crore.

The state-owned lender’s guarantees, however, have “illegally” not been allowed to be invoked due to pending proceedings before the NCLT, the DoT had submitted.

Source: Press Trust of India

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Nokia to showcase 5G private wireless at 2022 TISSOT UCI Track World Championships

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NEW DELHI: Nokia has announced that it has become an official partner of the 2022 TISSOT UCI Track World Championships being held near Paris in October. Nokia is working with the French Cycling Federation to deploy a 5G private wireless network solution at the Saint-Quentin-en-Yvelines National Velodrome.

The deployment will enable an immersive digital experience for fans and enhance security and safety at the event.

Nokia is already partnering with the Saint-Quentin-en-Yvelines Community on 5G projects in the 26 Ghz band at the National Velodrome. With 25,000 spectators expected over five days, the event provides a platform to showcase how 5G private wireless can meet the demands of thousands of people in an arena as they simultaneously access data and video over their devices. The low-latency and high-bandwidth capabilities of 5G will enable the arena owners and communications service providers to offer new data-driven services at similar events.

The private wireless network using mmWave for 5G will be deployed with Nokia Modular Private Wireless (MPW) solution. It will demonstrate how enterprises in France can leverage 5G mmWave to advance their digital transformation.

By harnessing the high-quality TV production and the different streams available and thanks to the deployment of new technology solutions, Nokia will contribute to enhance the viewing experience for fans in the arena and millions watching at home around the globe.

French Cycling Federation teams will benefit from enhanced video capture and real-time processing of data. Greater situational awareness and the ability to instantly share data and video will enhance maintenance and security efforts and ensure the smooth and safe running of the event. In addition, sports teams can benefit, as more wearable technology is connected, allowing them to access real-time health and performance data and video to help them better prepare for races.

Michel Callot, President of the Fédération Française de Cyclisme, said: “As the eyes of cycling fans across the globe turn to France for this high-profile event next year, we are excited to work with Nokia to showcase how 5G technology can augment the digital experience for those at the stadium and for people watching at home.”

Chris Johnson, Head of Global Enterprise business at Nokia, said: “As a worldwide leader in private wireless technology, Nokia is excited to take part in this awesome opportunity to transform the digital experience for everyone at the event. The implementation of high-speed, high-bandwidth connectivity will allow spectators to experience the event like never before.”

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STL wins Rs 170 crore deal from PGCIL

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NEW DELHI: STL, an industry-leading integrator of digital networks, announced a partnership with India’s largest power distribution company, Power Grid Corporation of India Limited (PGCIL). Through this collaboration, STL will fulfil PGCIL’s requirement for high performance, integrated network management systems across their regional communications networks. With this multi-year deal worth Rs 170 crore STL further strengthens its relationship with PGCIL.

As a part of its earlier engagements, STL has been supplying optical fibre cables and developed an IP-MPLS network for PGCIL.

PGCIL owns and operates 90% of India’s interstate and inter-regional electric power transmission network spanning 1,72,192 circuit kilometres & 72,126 km of telecom network. This gigantic transmission & telecom network has to be consistently maintained at an availability of 99% & 99.5% uptime, respectively. As networking becomes agile, these mammoth networks will require a modern approach to management and orchestration to solve challenges in the areas of silos, interoperability and security.

Leveraging its software-defined networking solution, STL will deliver a customised Unified Network Management System (UNMS) offering advanced automation, programmable configuration and actionable insights. Through this solution, PGCIL will get a consolidated, centralised view of regional networks and will be able to optimise O&M, reduce system outages at the national level and generate performance analytics for the Central Electricity Authority (CEA).

Commenting on this collaboration, Praveen Cherian, CEO, Global Business Services, STL said: “We are delighted to form an association with PGCIL for creating a customised UNMS for managing their massive-scale utility networks. Through our solution, we will provide a consolidated infrastructure with centralised controls for their inter-regional networks. The network management system, with integrated analytics, will bring in efficiency and effectiveness setting superior standards in networks operations management.”

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India releases 2nd volume of vision document on electronics manufacturing

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NEW DELHI: Ministry of Electronics and Information Technology, in association with ICEA, released a 5-year roadmap and Vision Document for the electronics sector today, titled “$300 billion Sustainable Electronics Manufacturing & Exports by 2026.” This roadmap is the second volume of a two-part Vision Document – the first of which titled “Increasing India’s Electronics Exports and Share in GVCs” was released in November 2021.

This report provides a year-wise break-up and production projections for the various products that will lead India’s transformation into a US$300 billion electronics manufacturing powerhouse, from the current US$75 billion.

Amongst the key products that are expected to lead India’s growth in electronics manufacturing include Mobile Phones, IT Hardware (laptops, tablets), Consumer electronics (TV and audio), Industrial electronics, Auto electronics, Electronic components, LED Lighting, Strategic electronics, PCBA, Wearables and hearables, and Telecom equipment (see chart). Mobile manufacturing that is expected to cross US$100 billion annual production – up from the current US$30 billion – is expected to constitute nearly 40% of this ambitious growth.

Ashwini Vaishnaw, Union Minister of Electronics & Information Technology, congratulated and lauded the entire team of Ministry of Electronics & Information Technology for their efforts in bringing out the documents and policy framework items at this remarkable speed.

During the event,  Vaishnaw also addressed some points raised by industry leaders during the recent interaction with him. Addressing industry’s apprehensions over the issue of dual regulations in mobile manufacturing, the Minister clarified that telecom department is not going to enter into mobile manufacturing and the mobile manufacturing regulatory regime will remain same.

Speaking on the occasion, Rajeev Chandrasekhar, Minister of State, Electronics & IT and Skill Development & Entrepreneurship, said that Ministry is focusing on broadening and deepening of electronics industry in India in line with Prime Minister’s recent statement at World Economic Forum, where he said that India is emerging as a reliable and trusted partner in value chains.

Talking about the objective of the volume-2 of the vision document releases today,Chandrasekhar, said, “New markets, new customers and being a player in Global Value Chain (GVC) is the goal and mission of the 2nd phase. This volume along with the 1st Volume on electronics manufacturing, represent an excellent example of goal setting, detailed strategy making after hours of deep engagement between government and industry. He further added that the numbers in the 2nd Volume of vision document confirms that there is a real opportunity in electronics sector, driven by 2 factors: growth of digital consumption and growth and diversification of global value chains.

The domestic market is expected to increase from US$65 billion to US$180 billion over the next 5 years. This will make electronics amongst India’s 2-3 top ranking exports by 2026. Of the US$300 billion, exports are expected to increase from the projected US$15 billion in 2021-22 to US$120 billion by 2026.

The five-part strategy to reach the US$300 billion goal, based on an “all of the government” approach, sharply focuses on broadening and deepening electronics manufacturing in India. This, by building competitiveness and scale by attracting global electronics manufacturers/brands, shifting and developing sub-assemblies and component ecosystem, building a design ecosystem, nurturing Indian champions and steadily removing cost disabilities faced by India.

The US$300 billion electronics manufacturing comes on the back of US$10 billion PLI Scheme announced by the government to propel forward the Semiconductor and Display ecosystem. The government has committed nearly US$17 billion over the next 6 years across four PLI Schemes – Semiconductor and Design, Smartphones, IT Hardware and Components. The Vision Document makes a strong recommendation on the need to focus on aggregate domestic value addition in the electronics sector, as India transforms from its current state to one that is gearing to compete with the likes of China and Vietnam. It also details the importance of the key role Indian champions will play in addition to global companies – both of whom are already part of the PLI Schemes.

The report seeks a competitive tariff structure on electronic components and removal of all regulatory uncertainty to put India on the path to US$300 billion electronics manufacturing. The report recommends a “winner takes all” strategy backed by economies of scale and global competitiveness, new and revised incentive schemes for some sectors, and the need to address issues of sustainability and ease of doing business.

Chart: Roadmap to manufacture US$300 billion Electronic Products

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