Investor SingTel backs Sunil Mittal - Hindustan Times
close_game
close_game

Investor SingTel backs Sunil Mittal

Hindustan Times | By, New Delhi
Mar 20, 2013 08:32 PM IST

Singapore-based SingTel, which holds more than 30% stake in Bharti Airtel, came out in support of the telecom major’s chairman Sunil Mittal on Wednesday, saying the firm has always upheld high standards of corporate governance.

Singapore-based SingTel, which holds more than 30% stake in Bharti Airtel, came out in support of the telecom major’s chairman Sunil Mittal on Wednesday, saying the firm has always upheld high standards of corporate governance.

HT Image
HT Image

A CBI court had, on Tuesday, summoned Mittal as accused in a 2G scam case involving the allotment of additional spectrum to the company beyond the contractual obligation of 4.4 MHz during the NDA regime.

Hindustan Times - your fastest source for breaking news! Read now.

The other persons who were accused included Ravi Ruia, a promoter of the Essar group that was a partner of Hutchison Essar (now Vodafone India Ltd).

“We are confident that Bharti Airtel and Mittal have always upheld and practised the highest standards of corporate governance in all aspects of the company’s operations, including the acquisition of spectrum. We trust that due legal process in India will prevail and are confident that Bharti Airtel Ltd and Mittal will be vindicated before the courts,” said SingTel.

Even though the CBI had not mentioned names of any official of the company, the court, however, took cognisance of the case and issued summons to all the seven accused, including Mittal, for April 11.

Mittal was “prima facie” in “control of affairs” of his company Bharti Cellular Ltd (now Bharti Airtel) which was charged by the CBI, the court said.

Denying the involvement of Sunil Mittal in the scam, a spokesperson of the company said, “CBI has asserted that they have not found any evidence of conspiracy against any individual whatsoever.”

“We would like to reiterate that Bharti Airtel Ltd and its promoters have always practised the highest standards of corporate governance and accordingly view the charge sheet as an attempt to tarnish its high reputation,” he added.
The firm maintained it was issued spectrum as per policy.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On