DoCoMo not cooperating to resolve dispute: Tatas
MUMBAI: Tata Sons on Sunday accused its erstwhile Japanese partner, NTT DoCoMo, of not cooperating with it to find an “amicable” solution to the $1.17-billion payment dispute. Tata Sons said that despite several attempts, DoCoMo has refused for a joint pitch before the government and the regulator over the arbitration dispute.Tata Sons, the promoter of major Tata companies, said DoCoMo is “confusing our intent to pay with what is legally payable by us”, emphasizing that its intention remains to pay but “within the confines of the law”.
DoCoMo is “confusing our intent to pay with what is legally payable by us”, emphasizing that its intention remains to pay but “within the confines of the law”.
DoCoMo, however, said that local rules only regulate the payment of hard currencies by Indian companies and under the norms, payment from Indian companies’ overseas assets or funds cannot be blocked. Tata Sons, on the other hand, argued that the group’s overseas entities weren’t a party to the dispute with DoCoMo and hence its foreign assets could not be seized. Tata Sons has deposited $1.17 billion with the Delhi high court.
THE Income-Tax Department conducted search operations in two major pharmaceutical companies and a bakery chain. The pharma majors are Cipla Read more
INCOME-TAX authorities today raided the premises of Great Eastern Shipping Company, Ipca Laboratories and RNA Builders. Altogether, 40 premises have Read more
LONDON: A Non-Resident Indian plastic surgeon, who falsely claimed that his sister and uncle were killed in the September 11 Read more
NEW DELHI: San Francisco-based Farallon Capital Management, L.L.C. has invested Rs 88 crore for 33.3% stake in Indiabulls Credit Services Read more
