Sunday, June 17, 2012

RoC directs 3 Tata cos to submit records on AB Nuvo plaint

The registrar of companies (RoC) has issued notices to three Tata firms - Tata Teleservices , Tata Industries and Tata Sons. The notices seek submission of records and have been issued under Section 234 of the Companies Act.

The notices follow allegations by Aditya Birla Nuvoregarding non-compliance of terms of licence by the companies of the Tata group.

The notice has also mandated the companies to submit a report to the ministry of corporate affairs by June 13.

This is the latest salvo in a continuing dispute between the Aditya Birla Group and the Tatas, who were once joint venture partners in Idea Cellular but then fell out after the Tatas started the CDMA operations under Tata Teleservices. The dispute is still pending with the telecom ministry.

Earlier, Idea Cellular wrote to the finance minister calling for a cancellation of the GSM spectrum allocated to Tata Teleservices . Idea Cellular referred to Supreme Court order and asked the government to quash, 141 licences and not 122 as suggested by the TRAI, issued to the Tatas.

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