The government, which had objected to Tata Communications raising a Rs 51 billion loan to fund its expansion plans, has now asked the company to submit details of how it intends to spend this money.

The government, which had objected to Tata Communications raising a Rs 51 billion loan to fund its expansion plans, has now asked the company to submit details of how it intends to spend this money. The company had earlier stated that it intended to raise additional funds to support some of its growth and investment projects. Since the company has reportedly been facing delays in getting government approval, it has worked out alternative avenues. It plans to raise Rs 10 billion through a rights issue and Rs 4.3 billion by offloading a part of its stake in TTSL to NTT DoCoMo.