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Etisalat blames Majestic Infra for its woes

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UAE-based telecom company on Tuesday blamed its Indian joint venture partner Majestic Infracon, which is promoted by accused and Vinod Goenka, for the woes of Etisalat DB's creditors and channel partners. "The Etisalat Group empathises with the creditors of EDB (Etisalat DB) and stresses that these are matters that have been triggered by the behaviour of Majestic Infracon, including its refusal to fund the company further," Etisalat said. Etisalat DB had said it would shut India operations following SC order that cancelled 122 2G licences, including 15 licences that belonged to the company.

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