The Emirati Telecommunication firm Etisalat is facing a major legal claim by Majestic Infracon Private, the Emerati telecom firms’ partner in Etislat DB, a joint venture into the Indian mobile market.
The firm could be facing $1.6 billion in fines for foreign exchange violations.
Two directors at Etislat DB, Shadhid Usman Balwa and Vinod Goenka, filed the claim.
The Indian press reported that the allegations include that Etisalat didn’t fulfill management obligations. Etisalat has a 44.73 percent share in Etisalat DB.
Balwa and Goenka are both in jail after corruption charges related to bribing officials to obtain licensing for mobile phone networks.
The Indian Ministry of Home Affairs (MHA). also expressed concerns about the telecom surveillance software Etisalat had used in a Blackberry service it had introduced in the UAE and recommended that the company should not be allowed to offer Blackberry services in India.
India’s Foreign Investment Promotion Board (FIPB) has rejected Etisalat investment proposals on grounds of possibility of “round tripping”. Round tripping refers to routing of investments by a resident of one country through another country back to its own country to evade taxes.
------------IN NIGERIA
Etisalat, one of Nigeria’s Cellular phone service providers has been slammed with a N10 Million law suit for illegally swapping a subscriber’s active number without his consent.
Taiwo Egbon, an Etisalat subscriber claim that he woke up one morning and discovered his Etisalat line which he uses in communicating with family members who frequently sends him money from overseas had been cloned.
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