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Sistema Shyam chief executive Vsevolod Rozanov also said Russia's investment of about $600 million in the company is expected to close during January-March 2011.
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Updated : Mar 17, 2018, 06:15 AM IST
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Sistema Shyam Teleservices, the Indian arm of Russia's Sistema, will reply to the government letter on network rollout obligations within the stipulated time, a top official said on Monday.
Sistema Shyam chief executive Vsevolod Rozanov also said Russia's investment of about $600 million in the company is expected to close during January-March 2011.
The telecom ministry has sent letters to companies that have not fulfilled rollout obligations asking them to reply within 15 days or pay "liquidated damages."
Telecoms regulator has recommended cancelling 69 telecom licences, the government said earlier in December, including 10 held by Sistema Shyam for failing to meet rollout requirements. The regulator also wants one other license of Sistema Shyam's cancelled after legal examination.
