Sign In / Register
Make This My Home Page | Feedback |RSS
You are here: IE »   Story

HC issues notice to Hutch-Essar, Asim, Analjit

  • Print
  • Mail This Article
  • Comments
  • Add to favorites
  • The Delhi High Court today issued notices to the government, Hutchison Telecom India (HTIL), Hutch-Essar and its minority shareholders among others on a petition alleging breach of FDI norms in telecom sector. The petition by Telecom Watchdog, an NGO, has sought cancellation of HTIL’s licence and confiscation of the shares held by the minority shareholders Asim Ghosh and Analjit Singh. The court gave six weeks time to file replies and rejoinder thereafter, if any.

    Telecom Watchdog alleged that minority shareholders, Asim Ghosh, Analjit Singh, and another company who together hold 15.03 per cent stake were merely acting as a front for Hutchison. The court also directed the petitioner to amend its petition in view of the clearance given by Foreign Investment Promotion Board (FIPB).

    However, the petitioner’s counsel Prashant Bhushan submitted that “it did not require to file an amended petition as FIPB had not taken care of any of his prayers made in the writ petition.” On March 8, the court had directed the Centre and FIPB to enquire into Hutchison Telecom’s holding in Hutch-Essar. The court had then given two months time to complete the probe, but refused to issue notice at that time.

    Ads by Google

    Comments
    Post comment

    Be the first to comment.

    Post a Comment
    Name:
    Email:
    Title:
    Maximum characters allowed     
    Comment:
    TERMS OF USE:
    The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
    I agree to the terms of use.