# Business

NCLT sanctions Airtel-Hughes VSAT operations merger

Bharti Airtel and HCIL had said they will combine their VSAT satellite operations in the country.

SNS | New Delhi | March 25, 2021 4:03 pm

NCLT sanctions Airtel-Hughes VSAT operations merger

The National Company Law Tribunal (NCLT) has cleared the Composite Scheme of arrangement between Bharti Airtel Limited, Bharti Airtel Services Limited, Hughes Communications India Private Limited and HCIL Comtel Private Limited, the telco major said in a regulatory filing on Thursday.

In May 2019, telecom operator Bharti Airtel and HCIL had said they will combine their VSAT (very small aperture terminal) satellite operations in the country, Hughes holding a majority stake in the merged entity.

Very Small Aperture Terminal (VSAT) is used to provide satellite based telecom and internet access to individuals and enterprise users and is utilised extensively by banks and ATMs.

Airtel shares closed over 3 per cent down at Rs 507.30 on Thursday evening on the BSE.

# India

Jagan moves NCLT against Sharmila

The deep rift and the family dynamics within the YSR family has yet again come to the fore with YSRCP chief YS Jagan Mohan Reddy and his wife, Bharti filing a petition in the National Company Law Tribunal (NCLT) against his sister and APCC chief YS Sharmila and mother YS Vijayamma.

# Business

Seven companies marketcap decreases by over Rs 1 lakh crore

Last week, Nifty fell 50 points or 0.20 per cent to 24,964 and Sensex fell 307 points or 0.38 per cent to 81,381. This was the second consecutive week when the market closed in the red.

# Technology

No respite for troubled SpiceJet as NCLT issues notice over another insolvency plea

The National Company Law Tribunal (NCLT) on Monday issued a notice to embattled low-cost carrier SpiceJet over a petition by Techjockey Infotech Pvt Ltd, one of its operational creditors.