Channel partners' woes caused by conduct of Balwa: Etisalat

In an official statement, Etisalat says that the issues raised by channel partners were caused by the conduct of Balwa and company.

April 03, 2012 / 22:05 IST

Etisalat's woes seem to be never ending. CNBC-TV18 learns that the economic offences wing has begun an investigation against Etisalat after channel partners and distributors filed a complaint against the company claiming non-payment of dues.

In an official statement, Etisalat said that the company has reviewed the complaint and the claims are baseless. It also says that the issues raised by channel partners were caused by the conduct of Balwa and company.

It further says that the issues have been triggered by the behaviour of Majestic Infracon and its refusal to further fund the company, due to which Etisalat hasn't been able to pay its creditors.

The Bombay High Court will consider the claims of creditors on April 11.

first published: Apr 3, 2012 10:02 pm

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