Etisalat

For The Violation of FEMA, Etisalat-DB to Pay Rs 7,100-Crores

For The Violation of FEMA, Etisalat-DB to Pay Rs 7,100-CroresAfter the complaints filed by the investigating officer, Rajeshwar Singh, the Special Director Balesh Kumar from the Enforcement Directorate(ED) charged the Etisalat-DB Group a fine of Rs 7,100 cores for the violation of the Foreign Exchange Management Act (FEMA).

They are the same company who previously attracted the limelight because they were one of the main accused in the 2G scam.

Etisalat to take up 25% of reliance

Etisalat to take up 25% of reliance

Reports from times of India show that emirates telecommunication corporation, the UAE based major of telecom wants to buy a stake of 25% in reliance communications. Reliance recently climbed 3 more percent touching Rs 144.

Emirates Telecommunications Corporation decided to pay about 3.8 billion dollars( about 180 billion rupees) for its quarter of reliance communications, reports said. The stock on the national stock exchange spiked up to a high amount of 153.30 rupees touching an increase of 10.40%