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政府不放宽规则Tata-DoCoMo纠纷
政府认为,没有理由放松在规则允许DoCoMo退出电信合资企业以预先确定的价格和再见
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政府不能采取沃达丰股价低于票面价值
解决post-Budget记者会在孟买,投资和公共资产管理部门(Dipam)部长Tuhin Kanta Pandey说,他的部门将持有该股。这将是类似于ITC和其他政府的控股公司,收购由于泌尿道感染救助。
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新德里:政府认为没有理由规则允许的任何放松DoCoMo退出其电信合资企业以预先确定的价格和再见。立场之际曝光,两个合作伙伴之间的股东协议被签署了3月25日,2009年,当外汇管理法案》(联邦应急管理局)禁止打电话或看跌期权被执行在优先股,分为债务工具。联邦应急管理局下的定价准则没有规定,外国投资者可以退出以预先确定的价格和保证回报的投资。
有人呼吁政府干预,但莫迪政府很清楚,它不想涉足这一问题,因为它将意味着违背规则由印度储备银行在2007年修订——几乎两年之前再见和DoCoMo签署了协议。对齐|删除
消息人士说,干预Tata-DoCoMo情况将导致回顾修正案的规定,这对一个公司不能做。还有其他几个例类似的问题。在任何情况下,政府反对任何回顾行动。塔塔塔塔的儿子之间的股东签署的协议,电视和DoCoMo条款允许日本合作伙伴出售其股票公允价值或认购价格的一半每股116卢比(哪个更高),以防性能参数不满足。2014年3月,DoCoMo给销售通知后股票的公允价值已下降到Rs 23,而50%的订阅价格是每股Rs 58。
规则的允许以现行价格回购或公允价值(Rs 23)没有给出任何保证回报。
![\"Government](\"https:\/\/st.etb2bimg.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
NEW DELHI: The government is of the view that there is no case for any relaxation in rules to allow DoCoMo<\/a> to exit its telecom joint venture with the Tatas at a pre-determined price.The stance comes amid revelations that the shareholder agreement between the two partners being signed on March 25, 2009, when the Foreign Exchange Management Act (Fema<\/a>) had barred call or put options being exercised in case of preference shares, which were classified as debt instruments. The pricing guidelines under Fema had stipulated that no foreign investor could exit its investment at a pre-determined price or with assured return.
There have been calls for the government to intervene but the Narendra Modi<\/a> administration is clear that it does not want to wade into the issue as it would mean going against the rules which were revised by the RBI in 2007 \u2014 almost two years before the Tatas and DoCoMo signed the agreement. Align<\/a> | Delete<\/a>
Sources said that intervening in the Tata-DoCoMo case would result in retrospective amendment of rules, which can\u2019t be done for one company. There are several other cases with similar issues. And in any case, the government is averse to any retrospective action.The shareholder agreement signed between Tata Sons, Tata Tele and DoCoMo had a clause which allowed the Japanese partner to sell its shares at fair value or half the subscription price of Rs 116 a share (whichever is higher) in case performance parameters were not met. In March 2014, DoCoMo gave a sell notice after the fair value of shares had dropped to Rs 23 each, while 50% of the subscription price was Rs 58 per share.
The rules prevailing then allowed a buyback at the prevailing prices or the fair value (Rs 23) without giving any assured return.
<\/div><\/div>With RBI disallowing Tatas to buy the partner\u2019s stake for over Rs 7,000 crore, the two companies were locked in arbitration, a recent ruling has asked the Indian conglomerate to pay nearly $1.2 billion (close to Rs 8,000 crore) to the Japanese firm.
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