Two BJP MPs have levelled allegations of malpractices against the professional in-charge of the insolvency resolution process of Topworth Steels and Power, an ailing company promoted by Abhay Lodha and Surendra Lodha. Documents with NewsClick suggest that after the resolution professional discovered fraudulent transactions in the company, his dismissal was sought by the two MPs. An exclusive investigation.
An amount not less than Rs 37,500 crore is owed to the government by two bankrupt telecom companies, Reliance Communications and Aircel. How these past dues are to be paid is a contentious issue that was left hanging in the balance by the Supreme Court in its September verdict in the so-called AGR (adjusted gross revenue) case.
The recent verdict by the Supreme Court bench headed by Justice Arun Mishra, one of his last judgements before retirement, on the so-called AGR or adjusted gross revenues case could lead to the formation of a duopoly in India’s telecom sector.
