» Swan Telecom http://www.telegyaan.com Thu, 15 Oct 2009 04:58:38 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Swan ownership under the microscope http://www.telegyaan.com/2009/01/18/swan-ownership-under-the-microscope/ http://www.telegyaan.com/2009/01/18/swan-ownership-under-the-microscope/#comments Sun, 18 Jan 2009 06:06:40 +0000 Rohan Kamath http://www.telegyaan.com/?p=1039 Swan, the telecom operator which received the license to start services last year, is under the lens of the telecom authorities. The reason – the ownership structure of the operator goes against the rules set by the governing bodies. Here’s the scenario in simple terms:

  • According to the guidelines, a telecom operator cannot hold more than 10% stake in another operator.
  • Reliance holds about 10% stake in the company, with the other investor being Tiger Traders.
  • It is learnt that the Board of the latter(Tiger) has Reliance employees.
  • Also, Reliance had also given a huge lot of redeemable preference shares to Swan, which might have an impact on their stake.

Reliance, however, states that it has a 9.9% stake, which adheres to the regulations. Currently, the DoT has asked the MCA or the Ministry of Corporate Affairs to look into the matter.

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