Birlas turn heat on Tatas for Idea

The Birlas have shot off yet another communication to the government saying that the Tata’s investment in Idea Cellular is not complyin...

The Birlas have shot off yet another communication to the government saying that the Tata’s investment in Idea Cellular is not complying with many guidelines of Department of Telecom’s (DoT) licensing policy.

In the second letter, the Birlas have asked the government’s opinion on the interpretation of the licensing norms about promoters’ stakeholding in Idea which also operates a competitive license.

The Tatas had acquired the equity of Mauritius-based AWS in Idea through their wholly-owned subsidiary AT&T Cellular in September last year. The letter asks the government to seek an explanation from the Tatas about why they had not disclosed acquisition of AWS of Mauritius.

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‘‘It is not the issues relating to investment, technology or marketing… the difference of opinion is on non-compliance of DoT norms,’’ sources in Birla group said.

And even in the last four months, Tatas have not disclosed the shares they own in Idea.

The Birlas also wanted to know why no prior permission was taken by the Tatas before acquiring AWS equity.

The Tatas, though, say they are not under any obligation to sell their shares to the Birlas and would sell their equity at an appropriate time for a fair value. — (with PTI)

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