Axiata Berhad is reportedly considering taking legal measures against the government in case Idea Cellular?s 13 licences are cancelled, says news reports.
Axiata Berhad has a 20 per cent stake in Idea Cellular. It is believed that the company has written to the Prime Minister, Dr Manmohan Singh, stating that in case the government fails to resolve the matter in next six months, it will invoke the bilateral investment promotion and protection agreement (BIPA) treaty between Mauritius and India to seek and protect its investments in Idea Cellular.
Idea Cellular?s 13 licences were among the 122 2G licences cancelled by the Supreme Court in February 2012.
Earlier, other investors such as Telenor, Russia?s Sistema, ByCell and Loop Telecom too have invoked BIPA to settle licence cancellation issues with the government. The government, in turn has set up an inter-ministerial group to deal with all the legal matters related to BIPA treaty invoked by foreign investors.
