Sistema has asked the Indian government to restore its cancelled licences or pay damages under the Bilateral Investment Promotion and Protection Agreements (BIPA), say news reports.
Sistema has reportedly written to the Ministry of External Affairs and Department of Telecommunications stating that the issue ought be resolved before the Indo-Russian summit which will be held at the end of December 2012.
Moreover, the operator has stated that failure to resolve the matter would impact diplomatic ties between the two countries. It has asked the government to restore Sistema Shyam TeleServices Limited?s (SSTL) licences which were cancelled following the Supreme Court order in February 2012. SSTL is set to lose its zonal operating licences on January 18, 2012.
