The Russia-based publicly invested company Sistema has approached Manmohan Singh, the Prime Minister of India to intervene and settle the issue of licence cancellation of Sistema Shyam Teleservices Limited (SSTL), says new reports.
SSTL is a joint venture between Sistema and India-based Shyam Group. SSTL?s 21 licences were among the 122 2G licences cancelled by the Supreme Court in February 2012.
In a letter to Singh, Vladimir Evtushenkov, chairman, Sistema has requested him to protect his company?s legitimate business rights and safeguard an investment of $3 billion in the country. He has urged the Prime Minister to reinstate SSTL?S cancelled licences, helping it reduce losses made by the company and its partners in the Indian telecom sector.
Evtushenkov is visiting India as part of a delegation led by Dmitry Rogozin, Deputy Prime Minister, Russia. The delegation is expected to meet Anand Sharma, Minister of Commerce and Industry to discuss trade issues as well as for amicable resolution of SSTL?s licence cancellation issue.
