cyrus mistry vs tata sons nclat to hear ousted tata chairman s pleas on july

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new delhi, may 5: the national company law appellate tribunal (nclat) on thursday heard two cases filed by ousted tata son’s chairman cyrus mistry’s firms here. a bench headed by justice s j mukhopadhyay decided that the case will be heard on july 3 again. mistry had sought maintainability of the petition alleging “mismanagement and oppression of minority” at tata sons, along with a waiver of the shareholding requirement rules.according to the the companies act requirement, the appellant should have at least 10 per cent holding to file a petition of the kind that mistry did. the mistry family on the other hand, holds 18.34 per cent of common equity in tata sons, which falls to 2.17 per cent when preference shares are taken in consideration. therefore, the nclt had rejected bot...

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new delhi: the national company law appellate tribunal (nclat) would pass order together for two cases filed by the ousted tata group chairman cyrus mistry camp over maintainability of pleas against tata's and waiver in the filing criteria. a nclat bench headed its chairman justice s j mukhopadhya today adjourned the two matters after a brief hearing to july 3. the appellate tribunal would continuously hear the matter till july 7. justice mukhopadhaya said the appellate tribunal will hear both the matters together and would decide over the maintainability and waiver in the same judgement although the two issues would be dealt separately. the appellate tribunal was hearing two petitions filed by the two investment firms against orders of national company law tribunal which had dismissed ple...

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mumbai: tata sons chairman natarajan chandrasekaran is set to make his biggest appointment since taking over the top job at india's largest conglomerate. chandra has handpicked veteran investment banking rainmaker saurabh agrawal to be the next tata group chief financial officer (cfo). agrawal will join the $103 billion group in july, after a year long stint with aditya birla group where he oversaw the multi billion idea-vodafone merger and the acquisition of jaypee's cement assets by ultratech. agrawal, 48, an iim kolkata alumnus, is currently the aditya birla's strategy head. this will be the 1st time a group cfo position has been created. till now, veteran tata hand ishaat hussain has been the finance director of the group but he retired from executive functions in 2012 and ever since b...

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mumbai: tata sons chairman natarajan chandrasekaran is set to make his biggest appointment since taking over the top job at india's largest conglomerate. chandra has handpicked veteran investment banking rainmaker saurabh agrawal to be the next tata group chief financial officer (cfo). agrawal will join the $103 billion group in july, after a year long stint with aditya birla group where he oversaw the multi billion idea-vodafone merger and the acquisition of jaypee's cement assets by ultratech. agrawal, 48, an iim kolkata alumnus, is currently the aditya birla's strategy head. this will be the 1st time a group cfo position has been created. till now, veteran tata hand ishaat hussain has been the finance director of the group but he retired from executive functions in 2012 and ever since b...

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new delhi: fair trade regulator cci has approved tatas' purchase of 21.63 per cent stake in group firm tata teleservices from japan's ntt docomo, taking the long- pending billion-dollar deal a step closer to completion. a joint filing was made with the competition commission of india (cci) for acquisition of share amounting to 21.63 per cent in ttsl by tata sons and four other group firms -- tata steel, tata industries, tata communications and tata power. in their joint application, the five companies had said they "propose to undertake a transaction which will result in acquisition of equity shares of ttsl comprising 21.63 per cent of the paid-up equity share capital, by the acquirers from docomo pursuant to certain consent terms entered into between tata sons and docomo." in a tweet, the...

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former tata consultancy services (tcs) ceo and current tata sons chairman n chandrasekaran earned a little over rs.30 crore in fy17, a majority of which was in the form of commission, the company's annual report showed.current ceo rajesh gopinathan, who took over the role in february, earned rs.6.2 crore, while current chief operating officer (coo) ng subramaniam earned rs.6.1 crore.these numbers are not necessarily comparable to the previous year's figure because the executives moved to their new roles in the second half of february 2017.in his role as ceo of tcs, chandrasekaran earned rs.2.4 crore in basic salary, rs. 25 crore as commission and rs. 2.7 crore in allowances in addition to certain perquisites. this represents a hike of over 17% in fy16.in fy16, chandrasekaran earned over rs...

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there comes a time in everyone’s lives when a certain incident proves to be so impactful, that it defines your life as “before” and “after” it. it could be discovering a new place, or even something as ordinary as meeting a new person; the impact is still momentous. a similar thing happened to mumbai man sumeet nagdev quite recently. nagdev was at the taj mahal hotel in colaba where he happened to spot a familiar face at the hotel lobby. it was indian businessman and former chairman of tata sons, ratan tata.“last night i read a book on leadership in 50 seconds,” nagdev wrote as he detailed his encounter with ratan tata. once he had figured out who the 70-something man walking by with two management personnels was, nagdev excitedly pulled out his phone and asked for a photogra...

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new delhi, may 2: in an unprecedented move, tata teleservices on tuesday fired around 500 to 600 employees to keep up with changing market conditions after the entry of reliance jio. the layoff is likely to affect all offices of the company. presently, the company has the presence in 19 telecom circles in the country.although, the decision regarding the layoff has not been made public. officials, privy to the decision, said that the company is feeling the heat after the entry of reliance jio. sources in the company said, “what most of the operators including tata teleservices are doing is workforce rationalisation, to stay competitive in line with the needs of the market.”tata teleservices spearheads tata group’s presence in the indian telecom market. the company, along with the lis...

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new delhi: maruti suzuki has been achieving new feats each passing day. earlier this month, it became the first automaker to hit a market capitalisation (m-cap) of rs 2 lakh crore on a closing basis. now, it is eying driving tata motors and mahindra & mahindra duo out of the m-cap race altogether. at wednesday’s trading price, m-cap of maruti suzuki stood at rs 2.12 lakh crore, which was just 5 per cent away from the combined valuation of tata motors and mahindra & mahindra duo, which stood at rs 2.2 lakh crore. while analysts insisted that it would not be fair to compare maruti suzuki’s valuations with those of tata motors and mahindra & mahindra, given the different segments, product mix and margin profiles these automakers deal in, they largely see maruti suzuki as a solid long-term...

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mumbai (afn/rtr) - tata steel, de indiase eigenaar van het voormalige hoogovens in ijmuiden, heeft afgelopen kwartaal meer staal geleverd en dankzij hogere staalprijzen ook flink meer omzet behaald. ook de winstgevendheid ging vooruit.tata steel voerde zijn productie op tot 6,83 miljoen ton, van 6,32 miljoen ton een jaar eerder. de opbrengsten stegen met zo'n 30 procent tot omgerekend bijna 5 miljard euro (353 miljard roepie). gecorrigeerd voor eenmalige posten en het afstoten van bedrijfsactiviteiten leverde dat circa 473 miljoen euro winst op, waar vorig jaar nog een klein verlies werd geleden.onder de streep kwam tata steel nog wel omgerekend 165 miljoen euro tekort, tegen een nettoverlies van 429 miljoen euro in hetzelfde kwartaal vorig jaar. dat tata toch weer op een nettoverlies is u...

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gothenburg, sweden: indian automotive designing firm tata technologies has acquired gothenburg based escenda engineering to significantly enhance the company’s scale and service offering in sweden and across europe, informed the company in an official statement.following the acquisition, escenda engineering is to be established as a 100% subsidiary of tata technologies europe. the company will maintain the same management team and full workforce under the new ownership.the acquisition is an essential component in tata technologies’ european growth strategy and follows the recent $26 million investment in the development of a new european innovation and development centre in the uk.tata technologies has taken the step to expand its presence in sweden due to the strong growth opportunity...

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new delhi: czech carmaker skoda plans to ride on parent volkswagen’s partnership with tata motors for a bigger play in the compact vehicles segment. it is looking to make a comeback into the high-volume small car category, while driving in a mini-suv and an entry sedan.the vehicles may hit the roads from 2019 and would be a culmination of the joint product strategy with tata motors. skoda may target the mass segment with this new range, sources told toi.the development stems from volkswagen’s mou with tata motors that was signed in march this year to explore a strategic alliance opportunity for joint product development. skoda has been earmarked to lead the project for the volkswagen brands.sources said tata motors’ advanced modular platform (amp) could be one of the routes that coul...

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new delhi: country's largest automaker by revenue tata motors sets an ambitious target to become third largest commercial vehicle manufacturer globally and have equal rank in passenger vehicle space in the domestic market by 2019, the company revealed its plan in the latest investor presentation.currently, tata motors is 5th largest commercial vehicle manufacturer in the world while it is ranked 5th largest pv maker in terms of domestic sales.the india's largest commercial vehicle manufacturer has pegged a total investment of rs 4,000 crore which will include an investment of rs 1500 crore in the commercial vehicle business while another rs 2500 crore will be used for development of passenger vehicle business, the company said in its investor's presentation.commercial vehiclesin the commer...

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mumbai: fiat india automobiles, an equally-owned joint venture between fiat and tata motors, signed fresh agreements with its indian parent and maruti suzuki to supply 2.2 lakh diesel engines over a three-year period, several people in the know said.maruti suzuki, which has been sourcing 1.3-litre multijet engines from fiat india, will buy 1.5 lakh more units of the same engine that powers its popular models such as swift, dzire, ignis, ciaz and vitara brezza.tata motors' deal is to source 70,000 units of 2-litre multijet engines for the suvs it is developing on a land rover platform. the company had previously sourced diesel engines from the jv for some vehicles, but now makes its own for the existing models.also read:diesel ic engines are the most efficient optionfiat india will invest s...

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softbank-backed ola has raised rs 670 crore ($104.4 million) in fresh funding from investors including uc-rnt fund, a venture between the university of california and ratan tata and hedge fund falcon edge. while uc-rnt fund has pumped in rs 267.99 crore, another rs 402 crore has been infused by falcon edge (fo mauritius i ltd), as per a regulatory filing by ola parent ani technologies.et reported earlier this month that ola is in advanced talks to raise $100 million from ratan tata's rnt capital and falcon edge in a deal which could move up its valuation to $3.5 billion. the bengaluru-based firm had raised about $250 million from japanese telecom and internet major softbank in november, albeit at a lower valuation of $3 billion, down from its previous valuation of $5 billion in november 20...

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new delhi: tata motors in a bse filing announced its financial results for the quarter ended march 31, 2017 and reported consolidated revenues (net of excise) of ₹77,272 crores as against ₹79,549 crores for the corresponding quarter last year.company's consolidated revenues for the quarter are lower by ₹ 9,032 crores due to translation impact from gbp to inr. consolidated profit before tax for the quarter was ₹5,166 crores, against ₹5,888 crores for the corresponding quarter last year.tata motors' jaguar land rover business retail sales were up by 13% yoy and the revenues were up by 10.1%.for the financial year ended march 31, 2017, the consolidated revenue (net of excise) was ₹269,850 crores against ₹273,111 crores for the last year. the consolidated profit before tax for th...

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akshay kumar attends the transform maharashtra exhibitionakshay kumar celebrated maharashtra day by attending an exhibition called transform maharashtra in mumbai. a huge number of 12,500 students across maharashtra attended the event and pledged their support in the development of the state. apart form akshay, other dignitaries like ratan tata and maharashtra chief minister devendra fadnavis were present too.1/9all comments (0) akshay kumar 2/9all comments (0) akshay kumar 3/9all comments (0) akshay kumar 4/9all comments (0) akshay kumar 5/9all comments (0) akshay kumar 6/9all comments (0) akshay kumar 7/9all comments (0) akshay kumar and devendra fadnavis 8/9all comments (0) akshay kumar, ratan tata and devendra fadnavis 9/9all comments (0) devendra fadnavis, ratan tata and akshay k...

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new york – gerardo "tata" martino was arriving at fc barcelona just as david villa was leaving the club to start a new chapter in his storied career at atletico madrid.it was july 2013, and villa was still in touch with former teammates and staff.“he came after i left, but i have a lot of friends there and everybody told me very good things about him,” villa told mlssoccer.com. “he’s a great coach.”it is because of those early reviews that villa is not surprised at the fast start atlanta united fc, who visit yankee stadium to face new york city fc on sunday (4 pm et | univision, facebook.com in us, mls live in canada), have had in their inaugural season.however, the nycfc star is also quick to point out how early in the season it is.“it’s early yet, only seven or eight ...

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maruti suzuki india, country’s leading auto manufacturer has finally unleashed the new version of its bestselling sedan for the lucrative sub-compact sedan in the indian market today. launched at inr 4.45 lakh (ex-showroom delhi), the dzire becomes compliant with futuristic norms which will come into effect from october 2017. the new dzire looks more promising and elegantly designed inside out as compared to the current generation. the sedan has been spied many times ahead of its launch and recently brochure has been leaked ahead of its launch revealing the technical specifications, equipments, mileage and interior details. to proffer more details about the new dzire, we pit it against tata’s newest entrant – tigor. also read: live new maruti suzuki dzire 2017 launch updates: price ...

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by saritha raiflipkart is nearing a final agreement to acquire rival e-commerce provider snapdeal after winning support from the startup’s three primary venture investors, but the contract still needs backing from two of india’s most powerful businessmen, according to people familiar with the matter.softbank group, the largest shareholder in snapdeal, has pushed for the deal and ultimately persuaded nexus venture partners to agree to terms, said the people, asking not to be named because the matter is private.kalaari capital and the founders had earlier agreed to the merger, which calls for snapdeal’s valuation to be reduced to about $1 billion from its previous $6.5 billion. the parties have reached a non-binding preliminary agreement that requires due diligence to be completed in a...

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new delhi: shares of tata motors fell by nearly 4 per cent, wiping out rs 4,835 crore from its market valuation today, after jaguar land rover (jlr) retail sales went down in april. the stock declined by 3.84 per cent to close at rs 419.75 on bse. intra-day, it dipped 4.22 per cent to rs 418.05. the stock was the top loser among the bse 30-share components. on nse, it slipped 3.87 per cent to end at rs 419.60.also read: jaguar land rover sales decline by 2.3% in april 2017, registers growth in q1 the company's market valuation too dropped by rs 4,835.55 crore to rs 1,21,196.45 crore. on the volume front, 14.14 lakh shares of the company were traded on bse and over 94 lakh shares changed hands at nse during the day. tata motors-owned jlr today reported retail sales of 40,385 units for april...

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new delhi: five months into the calendar year and sub-compact sedan space seems to have won the first half of the year with new and fresh launches.the new generation maruti suzuki dzire has been launched, hyundai xcent has undergone a massive facelift and tata tigor has been clocking good numbers since its launch march 2017. honda amaze too got a fresh look in late 2016.the sub-compact sedan segment or the sub-4 meter sedans account for about 10-12% of total car sales. on an average, about 25,000-28,000 units of these sedans are sold every month and the segment is also known as volume driver segment. until now, maruti suzuki swift dzire dominated the market with over 60% market share and now with the new generation of the car will go solo with the badge. maruti suzuki expects to further ex...

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new delhi: tata steel is all set to report quarterly earnings on tuesday. the steel-maker is expected to report healthy profit this time against losses it reported in the corresponding quarter of last year. edelweiss securities expects the company to report a consolidated core profit of rs 442 crore compared with a loss of rs 1,443 crore in the same quarter last year. sales are seen rising 9.7 per cent yoy to rs 32,358 crore. “we expect better realisation in both india and europe to drive topline and profitability. while volume growth from indian operations is expected at 17 per cent yoy due to ramp up of kalinganagar operations, european operations are expected to deliver lower volumes on account of preference of the company for value added sales,” the brokerage said. centrum broking ...

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new delhi:in a distinct change in policy stance towards vehicle electrification, the government has levied the highest tax rate on hybrid vehicles, at par with more polluting sports utility vehicles, throwing a spanner in the plans of automakers maruti suzuki, hyundai motor, tata motors, mahindra & mahindra (m&m) and honda, toyota who invested in technology with stricter emission standards and higher fuel efficiency.hybrid vehicles will attract total levies of 43% under gst (28% tax, 15% cess), more than smaller petrol and even diesel vehicles which would attract levies in the range of 29-31%. in comparison, pure electric vehicles have been bracketed in the 12% tax slab under gst.the decision has come as a surprise to industry veterans and manufacturers investing in hybrid technology to ad...

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benchmark bse sensex hit a fresh all-time of 30,184 last week, but closed at 29,918 on friday, up 1.88 per cent for the week. while the market momentum appeared to have slowed down, momentum indicator moving average convergence divergence, or macd, showed over 60 stocks witnessed an upward crossover or bullish crossover on bse, indicating that they have begun an upward journey. stocks that witnessed bullish crossover on the macd charts included ifci, tata teleservices (maharashtra), ongc, indian overseas bank, karnataka bank, tata motors, kokuyo camlin, indo count industries, rain industries, emkay global financial services and sms pharmaceuticals (see table). some of these counters have witnessed strong volumes, adding further credibility to the emerging trend. nestle india, caplin point ...

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mumbai: tata motors today said it has reduced its managerial workforce by up to 1,500 people domestically as part of an organisational restructuring exercise. "the reference (total managers) on which we started (the exercise) was in the vicinity of 13,000...we do see as far as the white collar population is concerned, an overall reduction in the vicinity of 10-12 per cent (up to 1,500)," managing director and chief executive guenter butschek told reporters here. he was speaking after announcing the company's earnings for the fiscal 2016-17. the company joins a growing number of organisations adopting such strategies for a variety of reasons, ranging from cutting the flab to automation. these job cuts, which have led to concerns on 'jobless economic growth' in various quarters, have been ac...

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atlanta – eight games into their inaugural season, atlanta united fc are struggling in two areas key for any successful franchise, expansion or not: winning at home and holding early leads.despite huge crowd numbers at bobby dodd stadium, atlanta have taken only three points from three matches there – as opposed to eight points from five away dates, including tough draws at seattle and toronto fc, last year's mls cup finalists.on sunday, they fell 3-1 to d.c. united, continuing that string of home frustration.paradoxically, perhaps, manager gerardo "tata" martino chalked up his team's struggles at bobby dodd to their desire to win for the home supporters.“i think when we play at home, we know that the fans have high expectations for the team,” martino said. “so maybe there’s a...

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new delhi: tata consultancy services (tcs) on thursday announced a partnership with semiconductor company nexperia to transform its applications and infrastructure services. through this partnership, nexperia aims to enhance tcs' digital core through its end-to-end enterprise application stack hosted on the tcs cloud. "tcs' expertise in the semiconductor industry coupled with its deep contextual knowledge of the parent company, positions us strongly to drive immense value for nexperia," said v. rajanna, vice president of tcs, in a statement. as part of the engagement, tcs will also deliver in-memory analytics through the tcs cloud, enabling nexperia to gain deeper business insights and support the company. "being a strong leader in the world of discrete components, it becomes pertinent for...

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mumbai: sudhir rao, the managing director of skoda auto india has resigned, raising eyebrows in the industry as it comes at a crucial juncture when the volkswagen group is in advanced discussions with tata motors for a possible tie-up.rao will serve his term until 30th june and the czech car maker, a subsidiary of volkswagen is likely to fill the vacancy created by his exit with an indian executive.rao’s exit happens at a critical time for skoda, when the parent vw group is in the middle of discussing a partnership with tata motors, which may see skoda auto, playing an active role. rao who spent over five years and three months at skoda was responsible for streamlining the loss-making operations and making it profitable. rao took over the reins as the md of skoda auto in early 2012 filli...

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mumbai, may 29: tatacliq.com, the tata group’s multi-brand phygital e-commerce business turned one-year-old on may 27. to spice up the first-anniversary celebration, tatacliq.com is inviting customers to browse the newest and hottest products, especially during the anniversary sale that kicked off on 27th may 2017. launched as a one-of-its-kind phygital marketplace, tatacliq.com has focused on providing a seamless, authentic and convenience-led online-offline experience for brand-conscious consumers.the week-long sale will offer exciting promotions and deals under properties such as brand of the day, mid-afternoon steals and the evening sale etc. exclusive offers from over 100 brands including voltas, samsung, jack & jones and celio*, international labels such as oliver, phase eight, n...

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bengaluru | mumbai: in its first major restructuring exercise in close to a decade, india's largest it services company tata consultancy services (tcs) has reorganised its service lines and put them under a new president, krishnan ramanujam. the company has also reshuffled business heads, as it looks at growing its digital offerings. ramanujam, to whom all of the company's service heads will report, will report to new ceo rajesh gopinathan. the last major organisation structuring at the company was in 2009, when n chandrasekaran had taken over as ceo. the exercise comes at a time when tcs, like its peers in the it services industry, is looking at focusing on new businesses like digital. in fiscal 2017, tcs’ digital business grew at 28% and contributes about 16% of its revenues. according...

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bengaluru | mumbai: in its first major restructuring exercise in close to a decade, india's largest it services company tata consultancy services (tcs) has reorganised its service lines and put them under a new president, krishnan ramanujam. the company has also reshuffled business heads, as it looks at growing its digital offerings. ramanujam, to whom all of the company's service heads will report, will report to new ceo rajesh gopinathan. the last major organisation structuring at the company was in 2009, when n chandrasekaran had taken over as ceo. the exercise comes at a time when tcs, like its peers in the it services industry, is looking at focusing on new businesses like digital. in fiscal 2017, tcs’ digital business grew at 28% and contributes about 16% of its revenues. according...

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a fox news executive who complained to ousted co-president bill shine about how her male colleague’s treatment of women at the company was told “[the colleague] was a necessary evil,” new york magazine’s gabriel sherman reports.shine was ousted monday amid ongoing revelations of “a culture of sexual assault” that’s permeated fox news since 1996, when former chairman roger ailes first founded the network. ailes resigned in july 2016 after former fox news anchor gretchen carlson came forward with allegations of sexual harassment by the chairman. in the wake of carlson’s lawsuit, as many as 20 women came forward to accuse ailes of sexual misconduct or harassment. ailes departure was followed by fox news heavyweight bill o’reilly, who departed the company last month.both men ...

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download download welcome to onpay recharge app - the best mobile app for online recharge & utility bill payments. a lightweight, secure and fast app. pay for your prepaid mobile recharges, postpaid mobile bills, electricity bills, dth recharge, landline bills, data card, and utility bill payments quickly. what we offer: get speedy mobile recharge, dth & datacard recharges, postpaid mobile, landline & utility bill payments on the go. no need to waste your time in queue to recharge mobile, pay at your fingertips and save your time, we have online recharge options for all indian telcos like airtel, vodafone, reliance, idea, aircel & mtnl and recharges for more operators. pay bill online for airtel, mtnl, vodafone, reliance, idea & more and landline bill payments for airtel landline convenien...

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mlssoccer.com's armchair analyst matt doyle looks at how the two competing philosophies of gerardo "tata" martino and patrick vieira will go head to head on sunday (4 pm et | univision, facebook.com, mls live in canada)....

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