Latest news with #Lakshminarayanan
The Hindu
3 days ago
- Politics
- The Hindu
Aid and advice: on Jammu and Kashmir, LG's Assembly member nominations
The Union Ministry of Home Affairs' assertion to the J&K High Court that the Lieutenant Governor (LG) can nominate five Assembly members without the 'aid and advice' of the elected government overrides democratic accountability. Consequential decisions such as nominating members who have voting rights in an elected assembly must flow from democratic mandate, not administrative discretion. The High Court's constitutional question could not be more direct: do the 2023 amendments to the J&K Reorganisation Act, allowing the LG to nominate five Assembly members 'which have the potential of converting the minority government into a majority government and vice-versa,' violate the Constitution's basic structure? Rather than addressing this, the Ministry delves into legal technicalities. Its submission argues that nominations fall outside the elected government's remit, seemingly invoking the K. Lakshminarayanan vs The Union of India precedent from Puducherry while claiming the 'sanctioned strength' includes elected and nominated members. It even references Section 12 of the 1963 Union Territories Act (voting procedures) as justification for bypassing democratic consultation. When five nominated members could determine government stability in a 119-member Assembly, the issue transcends statutory definitions of 'sanctioned strength'. The real question is whether any legal framework allowing appointed officials to potentially overturn the people's electoral verdict violates the democratic essence of the Constitution. The amendments inserted Sections 15A and 15B into the 2019 Act, allowing the LG to nominate two Kashmiri migrants (including one woman) and one from the Pakistan-occupied J&K community, besides the existing power to nominate two women, if inadequately represented in the elected Assembly. This effectively creates five nominated seats. The High Court's framing of this issue acknowledges the stakes involved: this could 'convert minority government into majority government and vice-versa', potentially subverting the electoral process. This concern is not unsubstantiated — in 2021, three years after Lakshminarayanan, Puducherry saw nominated members and defecting elected MLAs contributing to the collapse of the Congress-led government. Also, J&K's trajectory to Union Territory, without consultation with elected representatives, makes democratic accountability even more crucial. The unfulfilled promise of Statehood restoration, acknowledged by the Supreme Court and despite overwhelming support in J&K, reinforces that current arrangements should strengthen democratic governance. The Ministry's argument that nominations exist 'outside the realm of the business of the elected government' also contradicts evolving Supreme Court jurisprudence. In the Delhi services cases of 2018 and 2023, it ruled that the LG should act on elected governments' aid and advice, with discretionary powers treated as exceptions. Seen in this light, the Ministry's arguments do not hold water.
Mint
20-07-2025
- Business
- Mint
Tata Communications renews private 5G push
Nearly three years after first approaching the government for direct spectrum allotment, Tata Communications has renewed its push to get the airwaves for private 5G networks. 'Our representation is that for private 5G, the rules need to be different…we cannot have the same rule of spectrum rollout obligation," Amur Lakshminarayanan, the company's managing director and chief executive officer, told Mint. Unlike telecom operators who serve the broader public with 5G, private networks are targeted to a customer site, and companies cannot have telecom operator-like spectrum rollout obligations, he said. While the government is currently evaluating the prospects, Lakshminarayanan said any decision on the spectrum purchase will depend on pricing and the broader conditions set by the government. The department of telecommunications has initiated a fresh demand survey till 31 July to assess interest in assigning 5G spectrum directly to enterprises for setting up private networks. If approved, the move could allow large firms to bypass telecom service providers for high-speed, automated connectivity within their campuses and factories. Unlike public networks, private 5G networks operate in a closed environment, providing dedicated connectivity to industries such as manufacturing, healthcare, automotive and fast-moving consumer goods (FMCG). This ensures seamless automation and operational efficiency within factory premises and corporate campuses, free from interference from public networks. Lakshminarayanan, however, said the private 5G demand is slow worldwide as currently enterprises have not reached a stage to realize the full potential of industrial internet of things (IoT) technology. 'If in a factory, there are about 100 usecases of industrial IoT such as for workers safety, assets monitoring,etc, about 80% of them can be implemented without a 5G capability, using 4G or Wi-Fi 6 now," Lakshminarayanan said, adding that besides direct spectrum, there is an important need to shift from wired to wireless equipments in factories for private 5G take off. While Tata Communications is gearing up to play a bigger role in enterprise 5G, it is also managing near-term pressures, especially in its core connectivity business. The company's profitability has come under pressure due to recent local developments, including the US tariff orders, which have led to smaller deal sizes, cautious customer spending, and pricing pressures. In the April-June quarter, the company's Ebitda (earnings before interest, taxes, depreciation and amortization) margin fell 125 basis points to 19.1% year over year (y-o-y). 'Uncertainty continues for customers. They don't cancel the entire contract, but they might downsize. So, that kind of site termination and price erosion has happened," Lakshminarayanan said. He said such headwinds slow down or push out the ambitions by a few quarters. The company has guided for a 23-25% margin by FY27. In the Saarc (South Asian Association for Regional Cooperation) region, payment-related delays from clients have slowed business activity for Tata Communications. Tata Communications provides enterprises with network, cloud, mobility and security services. Along with other geopolitical factors, the company's commentary on the global tariff uncertainty triggered by the US government imposing reciprocal tariffs on countries assumes significance as 58% of its data revenue comes from international markets. Despite ongoing macroeconomic headwinds and continued pressures across the industry, the company witnessed a 'double-digit growth" in its order book during the quarter. 'At the same time, with new customers, we are able to go in and say how we are able to bring a full network transformation for them and that is the reason for a healthy funnel," Lakshminarayanan said. In the April-June quarter, Tata Communications posted a 6.6% y-o-y growth in consolidated revenue at ₹5,960 crore. The company's net profit, however, fell 43% YoY to ₹190 crore during the quarter. Data Services, which account for 87% of Tata Communications' revenue, saw a 9.5% increase to ₹5,152 crore during the quarter. Data Services include core connectivity services, digital platforms, and connected services. The company is seeing good traction from customers for its AI cloud offering Vayu, and is currently undertaking proof of concept for some clients. 'We have a good amount of interest. We are continuing to invest in our capabilities of the AI Studio platform," Lakshminarayanan said, adding that the scale will come gradually. Tata Communications is exploring partnerships with satellite internet firms along with its sister entity Nelco, Lakshminarayanan said.
The Hindu
26-06-2025
- Business
- The Hindu
Sundaram Home Finance aims to disburse ₹300 cr. in Madhya Pradesh
Sundaram Home Finance, the wholly-owned subsidiary of Sundaram Finance Ltd, has strengthened its footprint in Madhya Pradesh with the opening of two new branches, a top official said on Thursday. The city-headquartered company inaugurated a branch in Pithampur and Ratlam and has targeted disbursements of ₹300 crore in Madhya Pradesh this financial year. "This expansion in Madhya Pradesh is in line with our stated intent of identifying select growth opportunities in Tier II and III towns outside South India and building a stronger base in states where we already present in," Sundaram Home Finance MD D Lakshminarayanan said in a company statement here. The company currently operates two branches in Indore and one in Bhopal. With the current expansion in Pithampur and Ratlam, the total number of branches operated by Sundaram Home Finance in Madhya Pradesh increases to five. On the reasons behind expanding presence in Madhya Pradesh, Lakshminarayanan said the Central state is an important market for Sundaram Home Finance outside South India. "Rapid industrial growth is leading to increased affordability among the customers in that state. Over the last 12 months, we have seen a strong demand for home finance in larger towns like Indore and Bhopal in the mid-segment with a typical ticket size of about Rs 40 lakh", he said. He expected similar demand to continue for residential properties in Pithampur and Ratlam and expressed confidence of leveraging the increasing growth opportunities in Madhya Pradesh. The company crossed the milestone by disbursing ₹1,000 crore outside South India operations last year. The company has over 150 branches across the country.
Time of India
26-06-2025
- Business
- Time of India
Sundaram Home Finance aims to disburse Rs 300 crore in Madhya Pradesh
Sundaram Home Finance , the wholly-owned subsidiary of Sundaram Finance Ltd , has strengthened its footprint in Madhya Pradesh with the opening of two new branches, a top official said on Thursday. The city-headquartered company inaugurated a branch in Pithampur and Ratlam and has targeted disbursements of Rs 300 crore in Madhya Pradesh this financial year. "This expansion in Madhya Pradesh is in line with our stated intent of identifying select growth opportunities in Tier II and III towns outside South India and building a stronger base in states where we already present in," Sundaram Home Finance MD D Lakshminarayanan said in a company statement here. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Bejaia (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo The company currently operates two branches in Indore and one in Bhopal. With the current expansion in Pithampur and Ratlam, the total number of branches operated by Sundaram Home Finance in Madhya Pradesh increases to five. On the reasons behind expanding presence in Madhya Pradesh, Lakshminarayanan said the Central state is an important market for Sundaram Home Finance outside South India. Live Events "Rapid industrial growth is leading to increased affordability among the customers in that state. Over the last 12 months, we have seen a strong demand for home finance in larger towns like Indore and Bhopal in the mid-segment with a typical ticket size of about Rs 40 lakh", he said. He expected similar demand to continue for residential properties in Pithampur and Ratlam and expressed confidence of leveraging the increasing growth opportunities in Madhya Pradesh. The company crossed the milestone by disbursing Rs 1,000 crore outside South India operations last year. The company has over 150 branches across the country.
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Business Standard
26-06-2025
- Business
- Business Standard
Sundaram Home Finance aims to disburse ₹300 crore in Madhya Pradesh
Sundaram Home Finance, the wholly-owned subsidiary of Sundaram Finance Ltd, has strengthened its footprint in Madhya Pradesh with the opening of two new branches, a top official said on Thursday. The city-headquartered company inaugurated a branch in Pithampur and Ratlam and has targeted disbursements of Rs 300 crore in Madhya Pradesh this financial year. "This expansion in Madhya Pradesh is in line with our stated intent of identifying select growth opportunities in Tier II and III towns outside South India and building a stronger base in states where we already present in," Sundaram Home Finance MD D Lakshminarayanan said in a company statement here. The company currently operates two branches in Indore and one in Bhopal. With the current expansion in Pithampur and Ratlam, the total number of branches operated by Sundaram Home Finance in Madhya Pradesh increases to five. On the reasons behind expanding presence in Madhya Pradesh, Lakshminarayanan said the Central state is an important market for Sundaram Home Finance outside South India. "Rapid industrial growth is leading to increased affordability among the customers in that state. Over the last 12 months, we have seen a strong demand for home finance in larger towns like Indore and Bhopal in the mid-segment with a typical ticket size of about Rs 40 lakh", he said. He expected similar demand to continue for residential properties in Pithampur and Ratlam and expressed confidence of leveraging the increasing growth opportunities in Madhya Pradesh. The company crossed the milestone by disbursing Rs 1,000 crore outside South India operations last year. The company has over 150 branches across the country. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
