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This is an archive article published on August 9, 1998

Modi hits out at telecom MNCs

NEW DELHI, August 8: Modicorp chairman B K Modi, who was ousted as the chairman of Cellular Operators Association of India (COAI) last we...

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NEW DELHI, August 8: Modicorp chairman B K Modi, who was ousted as the chairman of Cellular Operators Association of India (COAI) last week, has accused foreign telecom companies of circumventing licensing norms and hatching a conspiracy to takeover the domestic telecom industry.

He predicted a split in the cellular industry because of the struggle between Indian companies and the MNCs. In an interview to be telecast on Zee India TV shortly, Modi said Hutchison Telecom circumvented the licensing norms (that a domestic company should have 51 per cent stake) through the FIPB route.

On his ouster from the post of chairman of COAI, Modi said it had been engineered by Hutchison which wanted to block the entry of Mahanagar Telephone Nigam Ltd in the cellular industry.

He said the problem started with Hutchison’s Rs 550 crore takeover of Max India’s shares in the lucrative Mumbai circle. Modi said he was in favour of MTNL entering into the cellular services which did not go down well with Hutchison and someother operators. He denied any misunderstanding with the Union telecom minister Sushma Swaraj. He further said an overseas company called Swaraj and informed that they have been asked to pay bribe, which Modi was asked to name. Modi stated that as the association president, he was unaware of it.

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