New Silk Route Appoints Sanjeev Chachondia As Operating Partner New Silk Route has announced the appointment of Sanjeev Chachondia as their Operating Partner. He will be based out of Mumbai. Prior to New Silk Route, he was the CEO of Loop Mobile India Limited (earlier known as BPL Mobile Communications Ltd). He has also worked with Essar Telecom Infrastructure Pvt.Ltd and the Tata group. Network 18 To Not Be A Non-Banking Financial Corporation Network 18 has informed the BSE that in accordance with the companys request, the Reserve Bank of India has cancelled Network18s Certificate of Registration to carry on the business of Non Banking Financial Institution. The company will continue to operate the business of events management, sports management and hold investments as per applicable law. RCOM To Sell FLAG: Report Reliance Communications is planning to sell an undersea fiber optic network (FLAG) and Yipes to raise around $3 billion in cash. According to ET, Reliance had hired a bank to advice on the auction, with Japan's KIDDI and American AT&T and Verizon as potential buyers. (Read more at The Economic Times) Rakesh Jhunjhunwala Sells Infomedia 18 Stake Investor Rakesh Jhunjhunwala (and Rekha Jhunjhunwala) have sold a total of 667,755 equity shares of Infomedia 18 Limited according to filings with the NSE. Post sale their stake in the company has fallen from 7.5764 percent to 4.2183 percent. 4,45,389 shares were sold on December 9th, and 2,22,366 shares on December 10th 2009. MTS To Be Launched In Mumbai Sistema Shyam Televersices that operates its…
