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DoT Considers Airtel and Tata Teleservices as Two Distinct Companies
The telecom department has instructed the entire circle head to consider the Bharti Airtel and Tata teleservices as two separate entities, as it is in the process to challenge the merger in the Supreme Court. The department of telecom has further asked it's entities to deal with the customer acquisition process and all its compliance-related issues of both the companies separately.
“The department has written to all telecom circles heads on November 6 that it has not yet taken on record the transfer or merger of the demerged undertakings of TTSL to Bharti Airtel and Bharti Hexacom and transfer or merger of the demerged undertakings of TTML to Bharti Airtel,” states the official source.
On July 1, Bharti Airtel had announced that the consumer mobile business of Tata Teleservices Ltd (TTSL) is part of Airtel, and the company has also been submitting the Tata Teleservices subscriber base as part of its overall customer base since July. The department has ordered the circle heads to perform theaudit of the customer acquisition form of both the companies separately, and the compliance related to the subscriber base to be handled individually. According to the sources, both the companies have operationalized the merger after the telecom tribunal TDSAT's (Telecom Disputes Settlement and Appellate Tribunal) order. This order has directed the DoT to take the merger on record and approve the schemes of arrangement by the NCLT, Delhi, and NCLT, Mumbai.
As of June, Airtel has reported about 320 million subscriber base and Tata Teleservices close to10.7 million. While in July, Airtel has stated about 328.5 million subscriber base, this includes the Tata Teleservices customer base as well.
“The DoT was duly notified of the same. The Registrar of Companies has also taken the merger on record. Needless to say, Bharti Airtel adheres to the highest standards of corporate governance and compliance,” says the Airtel spokesperson.
The telecom department has instructed the entire circle head to consider the Bharti Airtel and Tata teleservices as two separate entities, as it is in the process to challenge the merger in the Supreme Court. The department of telecom has further asked it's entities to deal with the customer acquisition process and all its compliance-related issues of both the companies separately.
“The department has written to all telecom circles heads on November 6 that it has not yet taken on record the transfer or merger of the demerged undertakings of TTSL to Bharti Airtel and Bharti Hexacom and transfer or merger of the demerged undertakings of TTML to Bharti Airtel,” states the official source.
On July 1, Bharti Airtel had announced that the consumer mobile business of Tata Teleservices Ltd (TTSL) is part of Airtel, and the company has also been submitting the Tata Teleservices subscriber base as part of its overall customer base since July. The department has ordered the circle heads to perform theaudit of the customer acquisition form of both the companies separately, and the compliance related to the subscriber base to be handled individually. According to the sources, both the companies have operationalized the merger after the telecom tribunal TDSAT's (Telecom Disputes Settlement and Appellate Tribunal) order. This order has directed the DoT to take the merger on record and approve the schemes of arrangement by the NCLT, Delhi, and NCLT, Mumbai.
As of June, Airtel has reported about 320 million subscriber base and Tata Teleservices close to10.7 million. While in July, Airtel has stated about 328.5 million subscriber base, this includes the Tata Teleservices customer base as well.
“The DoT was duly notified of the same. The Registrar of Companies has also taken the merger on record. Needless to say, Bharti Airtel adheres to the highest standards of corporate governance and compliance,” says the Airtel spokesperson.
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