I was victim in Tata Tele deal: Sivasankaran

Businessman C Sivasankaran

(pictured) on Thursday said he was not a beneficiary but a victim in his deal with Tata Teleservices.

He was responding to reports that the Tata group had issued Tata Teleservices shares to him at a discount and he had reneged on buying a part of NTT DoCoMo’s stake while it was exiting the firm.

Sivasankaran said he had been raising various issues related to his investment in Tata Teleservices. He has started preparing a legal notice to the group and NTT DoCoMo seeking compensation for mismanagement of Tata Teleservices.

“We will try to seek reconciliation by way of mediation with the Tata group,” Sivasankaran said.

Regarding the demand for his share of payment to NTT DoCoMo, he said the deal was not approved by the Reserve Bank of India and thus the demand was not valid.