24 January, 2021

Speed-Breakers On The Info Highway

The loud and very public spat over VSNL does little to inculcate investor confidence in PSUs

illustration by Sandeep Adhwaryu
Speed-Breakers On The Info Highway

The Complete VSNL

May 28
VSNL board decides to invest Rs 1,200 crore in Tata Teleservices. Pramod Mahajan says the decision makes "a mockery of the disinvestment process."

May 29
Mahajan threatens to move Company Law Board. Rakesh Kumar, government nominee on VSNL board, says decision was not unanimous, as claimed by the Tatas.

May 30
VSNL says Kumar didn't dissent or ask for vote.

May 31
Mahajan tells Tatas to backtrack on decision. Tatas say they will stick to decision.

June 3
BJP's Sunil Shastri and Jagdish Shettigar say "Tatas have set a bad precedent".

June 4
Arun Shourie defends VSNL sell-off, says colleagues' assertions betrayed ignorance of facts.

June 6
After meeting Advani, Shourie and Mahajan announce they have sorted out their differences.




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