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TDSAT notice to Etisalat on RComm's Rs.1,200 crore dues
Thursday February 23, 2012 06:30:42 PM,
IANS
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Etisalat writes off $827 mn, evaluates India options
Abu Dhabi-based telecom firm Etisalat Thursday
wrote off its investments worth $827 million in the mobile company
Etisalat DB and said the company is evaluating its strategic
options in India.
Etisalat is the second foreign firm to do so after the Norwegian
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New Delhi: The telecom
disputes tribunal Thursday served notice to Etisalat DB asking it
to reply in two weeks to a Reliance Infratel plea seeking to
recover Rs.1,200 crore from the Abu Dhabi-based firm for using its
telecom infrastructure on lease.
The Telecom Disputes Settlement and Appellate Tribunal (TDSAT)
bench headed by Justice S.B. Sinha said the next hearing on the
case will take place March 5.
Reliance Infratel (RITL) is a subsidiary of Reliance
Communications. The Anil Dhirubhai Ambani Group (ADAG) group firm
had approached TDSAT Wednesday.
Counsel for Reliance said the firm was apprehensive about
Etisalat's business after the Abu Dhabi-based company announced
shutting down its services in India following the Supreme Court
order cancelling 122 spectrum licences, including 15 of the
company.
In 2009, Etisalat DB had entered into 10-year pact with RITL for
leasing infrastructure to provide GSM services after getting 2G
spectrum.
RITL had disconnected Etisalat in January following non-payment of
dues.
Etisalat DB is a joint venture between Etisalat of United Arab
Emirates and Dynamix Balwas Group of India.
The operator, which has over 1.6 million subscribers across the
country, has said the official cessation date will shortly be
communicated to its customers.
Earlier this month, Etisalat had written off its investments worth
$827 million in Etisalat DB.
Etisalat DB has said it would reconsider entering the Indian
market when there is clarity on the auction process and the
regulatory environment governing the sector.
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Picture of the Day |
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Main entrance of Maulana Azad Library, Aligarh Muslim University
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library has a remarkable attendance of women students who
come, sit and access research oriented resources of the
library.
(Photo:
ummid.com) |
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