Bahrain's Batelco Pursues Former Indian Partner for Compensation
Published on: 12th Aug 2014
Note -- this news article is more than a year old.
Bahrain's Batelco has moved a step closer to securing the USD212 million it is claiming in damages from its former Indian partners, C Sivasankaran and Siva Ltd.
The company entered into a partnership with Mr. Sivasankaran to launch a mobile network in India, but its license was cancelled in the wake of the 2008 GSM license scandal, and Batelco had to write off most of its investment.
It has now secured a court order that extends indefinitely a world-wide freezing order against the assets of C Sivasankaran and Siva Ltd.
Mr. Sivasankaran has also been ordered to provide details of his assets so that they can assessed by the court for compensation.
Mr Sivasankaran did not oppose the order.
He was due to have made the USD212 million payment by the end of June 2014, so is now in default of the court order.