Foreign telcos, investors gear up to walk the talk on 2G litigation

Dubai-based Khaitan Holdings is among the first foreign investors in telecom that are considering moving TDSAT

Dubai-based Khaitan Holdings, which had a substantial stake in Loop Telecom, is among the first foreign investors in telecom that are considering moving the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) as well as going in for international arbitration against the government on account of their licences getting cancelled.

The move comes just a few days after a special court acquitted its promoters, I P and Kiran Khaitan, of criminal charges in the 2G scam.

The Ruias of the Essar group were minority stakeholders in the telco. The Supreme Court had in 2012 cancelled the telecom licences of Loop in 21 circles.

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