This was expected, and finally, Etisalat has begun the process of winding up the operations of Swan Telecom (Etisalat DB Telecom Pvt Ltd), citing a "complete breakdown in the relationship between Etisalat and its Indian partners, Shahid Balwa and Vinod Goenka, who face various criminal charges of corruption associated with Swan’s acquisition of its UAS licences." The Economic Times reported recently that the company has asked its subscribers to port out to other telecom operators. The company has claimed that it was "completely unaware of any issues or risks associated with the licences which were already owned by Swan when it made its investment", and has now sued Shahid Balwa, Vinod Goenka and Majestic Infracon Pvt Ltd (formerly Tiger Trustees Pvt Ltd) for fraud and misrepresentation associated with soliciting Etisalat’s investment in Swan. Etisalat DB becomes the second venture, after S-Tel, to ask customers to port out, and shutter operations, following the cancellation of 122 2G licenses by India's Supreme Court. Note that there is no clear indication yet about whether Etisalat will choose to participate in the auctions, if, indeed, there are auctions this year. The complete statement from Etisalat: Etisalat issues proceedings for winding up Etisalat DB Telecom Pvt Ltd (EDB) Etisalat has issued proceedings for the winding up of Etisalat DB Telecom Pvt Ltd (EDB) (formerly Swan Telecom) so that there can be a proper and orderly end to the business of EDB that is supervised by the Indian Courts. Recent events have led to a complete…
- Over 20 GAC orders sent to Meta and WhatsApp in October, show transparency reports December 7, 2023
- 28 crypto companies have registered with the Financial Intelligence Unit: Ministry of Finance says December 7, 2023
- Big Tech Companies’ Representatives Debate the varying approaches to AI regulation at Carnegie India Summit December 7, 2023
- New Mexico Sues Meta Over Child Safety Failings on Its Platforms December 7, 2023
- Government agencies demand push notification data from Apple, Google to spy on users: US Senator December 7, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...