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Datacom CEO says services on schedule

Datacom CEO says services on schedule
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First Published: Mon, Jun 30 2008. 10 57 PM IST
Updated: Mon, Jun 30 2008. 10 57 PM IST
New Delhi: Even as differences between the promoters of Datacom Solutions Pvt. Ltd get aired in the open, the chief executive officer of the mobile phone services aspirant has said the spat will not affect the company’s plans and that the network roll out plans will begin on schedule on 15 August.
“There is no impact on the working or operations of the company. We will roll out our networks on 15 August, 2008 (from Chennai) and the services will be made available by end of year,” CEO Ravi Sharma said, declining to comment on the differences between the two promoters—Venugopal Dhoot, chairman of Videocon Industries Ltd, a consumer electronics firm, and Mahendra Nahata, chairman of telecom equipment maker Himachal Futuristic Communications Ltd, or HFCL.
The shareholder spat was first reported by Business Standard on Monday.
Nahata, who said he and his family own 36% of Datacom through a holding company Jumbo Techno Services Pvt Ltd, alleged that the phone firm is managed against the principles of corporate governance. “Decisions are being taken against the interests of the company. No respect is given to the rights of minority shareholders. Unless all these issue are addressed, we reserve the right to take whatever course of action we deem necessary to protect our legitimate interests,” he said in a phone interview.
His firm and representatives are not being consulted on important matters such as stake sale discussions, Nahata added. “We are being kept in the dark. (Datacom) is being run as a sole-proprietorship firm,” he said.
Options being considered include legal recourse, Nahata added.
“We have not set a deadline for the next course of action. We will see for the next few days and then decide.”
Videocon owns 64% in Datacom, which has been awarded a licence by the Union government’s department of telecommunications to launch phone services in India.
It has been granted spectrum rights in parts of the country and expects to be allocated frequency in other licensed areas soon.
When contacted for comment, Dhoot said he would call back but had not done so till late Monday.
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First Published: Mon, Jun 30 2008. 10 57 PM IST