Tata Sons told to pay $1.17 bn in damages to Ja...

Tata Sons told to pay $1.17 bn in damages to Japan’s DoCoMo

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Kkkkkk
Deal Captain
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$ 1170000000
Rs. 79429486500.00 or Rs.7900 Crores eek

Tata Sons told to pay $1.17 bn in damages to Japan’s DoCoMo
Reported by Srikapardhi News Posted: June 24, 2016 at 9:19 pm 4
In a setback for Tata Sons, The London Court of International Arbitration has ordered the Indian conglomerate to pay NTT DoCoMO $1.17 billion in compensation for breaching an agreement on India telecom joint venture, Tata Docomo. The court ruled in favour of DoCoMo over price it was entitled for exiting the Indian joint venture, the Japanese firm said in a statement.

HomeNewsTata Sons told to pay $1.17 bn in damages to Japan’s DoCoMo
Reported by Srikapardhi News Posted: June 24, 2016 at 9:19 pm 4
In a setback for Tata Sons, The London Court of International Arbitration has ordered the Indian conglomerate to pay NTT DoCoMO $1.17 billion in compensation for breaching an agreement on India telecom joint venture, Tata Docomo. The court ruled in favour of DoCoMo over price it was entitled for exiting the Indian joint venture, the Japanese firm said in a statement.

According to the arbitration award, Tata Sons will receive or designate a recipient for DoCoMo’s entire stake in TTSL. NTT Docomo had filed a request with a London court for arbitration against Tata Group holding company Tata Sons in January 2015. It had claimed that Tata Group latter failed to fulfil its obligation to find a buyer for Docomo’s stake in Tata Teleservices Ltd.

In April 2014, Docomo had decided to exit after the joint venture struggled to grow subscribers in the highly competitive Indian market, and had accordingly sought Rs 58 per share or Rs 7,200 crore from Tatas to buy out its 26.5 per cent stake in the loss-making Tata Teleservices for Rs 23.34 a share.

The Japanese company said that the investment in 2008 was made with an understanding that it would get at least 50 per cent of its acquisition price if it exits the Indian company in five years.

Docomo in a statement said that the award orders that Tata Sons pay damages to Docomo in the amount of approximately $ 1,172 million for Tata Sons’ breach of the shareholders agreement, upon Docomo’s tender of its entire stake in Tata Teleservices to Tata Sons or its designee.

Source: http://telecomtalk.info/tata-sons-told-to-pay-1...

7 Comments  |  
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Must be shocker to Mistry.

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Deal Colonel
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@Navneet Since: October 04, 2015

How , Dimer since 2011 ??

U have stolen my dp ??

Giphy %282%29
Deal Lieutenant
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ye gaya Land Rover Jaguar ka business. isko pay karne mein. cool
mujhe bech do bhaiyya. i will take care of JLR range rover better!

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Deal Cadet
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@19 Female Gurgaon wrote:

ye gaya Land Rover Jaguar ka business. isko pay karne mein. cool
mujhe bech do bhaiyya. i will take care of JLR range rover better!

they will cover up this amount in coming years as they r a multibillion company

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Deal Subedar
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@19 Female Gurgaon wrote:

ye gaya Land Rover Jaguar ka business. isko pay karne mein. cool
mujhe bech do bhaiyya. i will take care of JLR range rover better!


Kharidlo Maine kab mana kiya 😛

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Deal Subedar
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@AKA wrote:

@19 Female Gurgaon wrote:

ye gaya Land Rover Jaguar ka business. isko pay karne mein. cool
mujhe bech do bhaiyya. i will take care of JLR range rover better!

they will cover up this amount in coming years as they r a multibillion company


Tata Communication is the only Tier 1 company from India. Its ofc network is one of the largest in the world. They sell bandwidth to other isp’s in India.

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