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Vsevolod Rozanov<\/a><\/strong>, Senior Vice President & Group CFO, Sistema JSFC<\/a>, who was heading operations at Indo Russian joint venture Sistema<\/a> Shyam Teleservices Ltd, when its all but one licences were cancelled by the Supreme Court<\/a>, tells ET's Gulveen Aulakh<\/strong> over email that the government<\/a> should have taken a stronger stance in court and had it done so, the entire fiasco could have been avoided. Sistema invested billions into the Indian business but had to write off over $1.2 billion. Rozanov says that the company was affected so severely that it was never able to get back on its feet. SSTL was sold to Reliance Communications<\/a> in return for 10% equity but the company too shut its voice services earlier this month. <\/em>\n\t
\"\"
<\/span><\/figcaption><\/figure>\n\n\n

\n\nIs there a feeling of being wronged after all these years that licenses were cancelled unnecessarily, after the judgement?<\/strong>
\nGiven that SSTL was the only applicant for CDMA spectrum, we have insisted right since the license cancellation judgement that there is no wrong doing on part of SSTL. The recent judgement reiterates that, and we feel happy that finally the truth prevailed.
\n
\nThe company's whole operations were affected, losses taken and investments written off. Could this have been avoided? Do you think the SC took its decision without considering all factors?<\/strong>
\nThis could have been avoided altogether had the government taken stronger stance at the court during the initial hearing. We were accused that we should have been doing more detailed due diligence. However, there is no point in doing the due diligence of a license issued by the government if you followed due process (which we did). We as a foreign investor rely on the government acts and laws. I am absolutely confident that the decision was made without considering details and especially the nature of telecom business which requires significant capital investments before any profit is made. Investments made by us and other operators were not taken into account at all. Our drive to be OIBDA positive was stopped artificially and we were not able to get back on track.
\n
\nNow that no criminality or scam has been established by the CBI Court, what is the recourse that Sistema can take to seek relief from the Indian government?<\/strong>
\nSistema has always tried to find an amicable solution with the Government of India. The company has never resorted to the BIT mechanism to resolve problems related to its telecom business in India. Indian courts are currently reviewing two legal cases related to SSTL's spectrum – one on spectrum contiguity and the other on the one-time spectrum charge for the period from cancellation of SSTL licences in 2012 till the auction. We have the right to resort to the BIT mechanism, but our final decision will depend on the outcome of these two proceedings.

ALSO READ: 2G verdict fallout: C Sivasankaran to move Supreme Court seeking Rs 3,400 cr in STel Damages<\/a>
<\/strong>
Do these developments put India in a poor light for doing business? Your views.<\/strong>
\nLack of confidence in regulatory framework and regulator's inconsistency many times was mentioned as the key impediment for foreign investments into the country. The developments around 2G spectrum case is the most vivid example of that. I know that many investors even from other sectors were watching the situation very carefully and either did not enter the market\/ put in later investments or exited India.
\n
\nDo you feel a lot of your personal time and effort that had gone into negotiating with the Indian government and then rebuilding the India business could have been avoided? And now, they have gone to waste?<\/strong>
\nI firmly believe that any experience the human being gets is of some use and importance. We learned a lot during that crisis and became stronger managers and a stronger team. So, I do not think it has gone to waste. However, indeed amount of time spent on seeking the ways of amicable solution and explaining the absence of any guilt on our side could have been used for more productive activity.
\n\n
\n<\/body>","next_sibling":[{"msid":62237235,"title":"Sistema blames UPA stance at apex court for loss of licences","entity_type":"ARTICLE","link":"\/news\/sistema-blames-upa-stance-at-apex-court-for-loss-of-licences\/62237235","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":62237753,"entity_type":"ARTICLE","title":"Sistema wronged in India for no fault, says CFO Vsevolod Rozanov","synopsis":"Given that SSTL was the only applicant for CDMA spectrum, we have insisted right since the license cancellation judgement that there is no wrongdoing on part of SSTL.","titleseo":"telecomnews\/sistema-wronged-in-india-for-no-fault-says-cfo-vsevolod-rozanov","status":"ACTIVE","authors":[{"author_name":"Gulveen Aulakh","author_link":"\/author\/19656\/gulveen-aulakh","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/19656.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":19656,"author_name":"Gulveen Aulakh","author_seo_name":"gulveen-aulakh","designation":"Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-12-25 09:25:25","lastupd":"2017-12-25 10:20:16","breadcrumbTags":["Vsevolod Rozanov","Supreme Court","Government","Sistema","Sistema JSFC","Reliance communications","industry","Interviews"],"secinfo":{"seolocation":"telecomnews\/sistema-wronged-in-india-for-no-fault-says-cfo-vsevolod-rozanov"}}" data-authors="[" gulveen aulakh"]" data-category-name="" data-category_id="" data-date="2017-12-25" data-index="article_1">

Sistema委屈在印度没有错,首席财务官Vsevolod Rozanov说

考虑到萨里是唯一的申请人CDMA光谱,我们坚持正确的自许可撤销判决,没有不当行为在萨里的一部分。

Gulveen Aulakh
  • 更新于2017年12月25日上午10:20坚持
Vsevolod Rozanov高级副总裁&集团首席财务官Sistema JSFC,他是印度俄罗斯合资企业的运营SistemaShyam电信业务公司,除了一个执照被取消的最高法院,讲述外星人的Gulveen Aulakh通过邮件,政府应该采取更强硬的立场在法庭上,这样做,整个事件是可以避免的。Sistema向印度投资数十亿美元的业务,但不得不减记超过12亿美元。Rozanov说,公司正在影响严重,从来也没能站稳脚步。萨里被卖给信实电信以换取10%的股权,但该公司本月早些时候关闭了语音服务。


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有被冤枉的感觉这么多年后,许可证被取消不必要的,后判断吗?
考虑到萨里是唯一的申请人CDMA光谱,我们坚持正确的许可证取消以来的判断没有错在萨里的一部分。最近判断重申,我们感到高兴终于真相了。

公司的整体运营受到影响,损失和投资。这可以避免吗?你认为SC了决定不考虑所有的因素?
这完全是可以避免的,政府在法庭上采取强硬姿态的在最初的听证会。我们被指责,我们应该一直在做更详细的尽职调查。然而,没有点在做尽职调查由政府颁发的许可证,如果你遵循正当程序(我们做)。我们作为一个外国投资者依赖政府行为和法律。我绝对相信这个决定是不考虑细节,特别是电信业务的本质之前需要大量的资本投资利润。投资由美国和其他运营商没有考虑。我们开车去是OIBDA积极停止人为,我们不能回到正轨。

既然没有犯罪或者欺诈已经建立了CBI法院的追索权Sistema可以寻求从印度政府救济吗?
Sistema一直试图找到一个友好的解决方案与印度政府。该公司从未采取相关的一些机制来解决问题在印度的电信业务。目前印度法院审查两个法律案件相关的萨里的光谱——一个光谱接近光谱和其他一次性收费从2012年萨取消牌照拍卖。我们有权诉诸一些机制,但我们的最终决定将取决于这两个程序的结果。

还读:2 g裁决后果:C Sivasankaran将Rs 3400 cr STel最高法院寻求赔偿
做的这些发展把印度的穷人光做生意吗?你的观点。
在监管框架和监管机构缺乏信心的矛盾很多次提到外国投资进入中国的关键障碍。2 g频谱周围的发展情况是最生动的例子。我知道很多投资者甚至从其他行业非常仔细地关注事态的发展,并没有进入市场/将在以后的投资或退出印度。

你觉得你很多个人时间和精力,已经到与印度政府谈判,然后重建印度业务是可以避免的吗?现在,他们已经浪费吗?
我坚信,任何经验的人得到使用和重要性。我们学到了很多在这危机,成为更强的经理和一个更强大的团队。所以,我不认为它已经浪费了。然而,事实上的时间花在寻找友善的解决方案的方法和解释没有任何愧疚的在我们这边可以被用于更多的生产活动。

  • 发布于2017年12月25日09:25点坚持
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  • Sistema委屈在印度没有错,首席财务官Vsevolod Rozanov说
Vsevolod Rozanov<\/a><\/strong>, Senior Vice President & Group CFO, Sistema JSFC<\/a>, who was heading operations at Indo Russian joint venture Sistema<\/a> Shyam Teleservices Ltd, when its all but one licences were cancelled by the Supreme Court<\/a>, tells ET's Gulveen Aulakh<\/strong> over email that the government<\/a> should have taken a stronger stance in court and had it done so, the entire fiasco could have been avoided. Sistema invested billions into the Indian business but had to write off over $1.2 billion. Rozanov says that the company was affected so severely that it was never able to get back on its feet. SSTL was sold to Reliance Communications<\/a> in return for 10% equity but the company too shut its voice services earlier this month. <\/em>\n\t
\"\"
<\/span><\/figcaption><\/figure>\n\n\n

\n\nIs there a feeling of being wronged after all these years that licenses were cancelled unnecessarily, after the judgement?<\/strong>
\nGiven that SSTL was the only applicant for CDMA spectrum, we have insisted right since the license cancellation judgement that there is no wrong doing on part of SSTL. The recent judgement reiterates that, and we feel happy that finally the truth prevailed.
\n
\nThe company's whole operations were affected, losses taken and investments written off. Could this have been avoided? Do you think the SC took its decision without considering all factors?<\/strong>
\nThis could have been avoided altogether had the government taken stronger stance at the court during the initial hearing. We were accused that we should have been doing more detailed due diligence. However, there is no point in doing the due diligence of a license issued by the government if you followed due process (which we did). We as a foreign investor rely on the government acts and laws. I am absolutely confident that the decision was made without considering details and especially the nature of telecom business which requires significant capital investments before any profit is made. Investments made by us and other operators were not taken into account at all. Our drive to be OIBDA positive was stopped artificially and we were not able to get back on track.
\n
\nNow that no criminality or scam has been established by the CBI Court, what is the recourse that Sistema can take to seek relief from the Indian government?<\/strong>
\nSistema has always tried to find an amicable solution with the Government of India. The company has never resorted to the BIT mechanism to resolve problems related to its telecom business in India. Indian courts are currently reviewing two legal cases related to SSTL's spectrum – one on spectrum contiguity and the other on the one-time spectrum charge for the period from cancellation of SSTL licences in 2012 till the auction. We have the right to resort to the BIT mechanism, but our final decision will depend on the outcome of these two proceedings.

ALSO READ: 2G verdict fallout: C Sivasankaran to move Supreme Court seeking Rs 3,400 cr in STel Damages<\/a>
<\/strong>
Do these developments put India in a poor light for doing business? Your views.<\/strong>
\nLack of confidence in regulatory framework and regulator's inconsistency many times was mentioned as the key impediment for foreign investments into the country. The developments around 2G spectrum case is the most vivid example of that. I know that many investors even from other sectors were watching the situation very carefully and either did not enter the market\/ put in later investments or exited India.
\n
\nDo you feel a lot of your personal time and effort that had gone into negotiating with the Indian government and then rebuilding the India business could have been avoided? And now, they have gone to waste?<\/strong>
\nI firmly believe that any experience the human being gets is of some use and importance. We learned a lot during that crisis and became stronger managers and a stronger team. So, I do not think it has gone to waste. However, indeed amount of time spent on seeking the ways of amicable solution and explaining the absence of any guilt on our side could have been used for more productive activity.
\n\n
\n<\/body>","next_sibling":[{"msid":62237235,"title":"Sistema blames UPA stance at apex court for loss of licences","entity_type":"ARTICLE","link":"\/news\/sistema-blames-upa-stance-at-apex-court-for-loss-of-licences\/62237235","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":62237753,"entity_type":"ARTICLE","title":"Sistema wronged in India for no fault, says CFO Vsevolod Rozanov","synopsis":"Given that SSTL was the only applicant for CDMA spectrum, we have insisted right since the license cancellation judgement that there is no wrongdoing on part of SSTL.","titleseo":"telecomnews\/sistema-wronged-in-india-for-no-fault-says-cfo-vsevolod-rozanov","status":"ACTIVE","authors":[{"author_name":"Gulveen Aulakh","author_link":"\/author\/19656\/gulveen-aulakh","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/19656.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":19656,"author_name":"Gulveen Aulakh","author_seo_name":"gulveen-aulakh","designation":"Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-12-25 09:25:25","lastupd":"2017-12-25 10:20:16","breadcrumbTags":["Vsevolod Rozanov","Supreme Court","Government","Sistema","Sistema JSFC","Reliance communications","industry","Interviews"],"secinfo":{"seolocation":"telecomnews\/sistema-wronged-in-india-for-no-fault-says-cfo-vsevolod-rozanov"}}" data-news_link="//www.iser-br.com/news/sistema-wronged-in-india-for-no-fault-says-cfo-vsevolod-rozanov/62237753">