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Bombay HC admits Etisalat plea for winding up of telecom JV with DB group

Nov 23, 2013    

Mumbai: The Bombay High Court hasadmitted a petition filed by Etisalat Mauritius Ltd forwinding up of its joint venture with India-based DB Group,observing that a deadlock exists between the main shareholdersof Etisalat DB Telecom Private Ltd.Justice S J Kathawalla passed the order earlier thisweek while hearing a petition filed by UAE governmentcontrolled Etisalat Mauritius Ltd, seeking to wind up thejoint venture company on account of quashing of the 2Glicenses by the Supreme Court and a "dysfunctional" board ofdirectors.Etisalat DB is embroiled in the 2G spectrum allotmentscam and...

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