Tata Tele notice to Subhiksha

MUMBAI/CHENNAI: Tata Teleservices has issued a windingup notice to Subhiksha against alleged non-payment of dues. The telecom company allotted some 10,000 connections to various Subhiksha outlets in the country, which have now been disconnected after the retail chain allegedly failed to clear bills.

Subhiksha founder MD R Subramanian denied that Tata Teleservices or any other vendor had filed winding-up petitions against the company. He, however, adds: ������ We will naturally vigorously contest any such petition to ensure that the ends of justice are met and these petitions are defeated .������ Tata Tele said it is monitoring the situation at Subhiksha, which has been referred for corporate debt restructuring���a system that deals with cases involving several lenders once a loss-making company expresses its inability to clear dues. Tata Teleservices claims it has to recover around Rs 10 crore from the discount retail chain.

Normally, when a subscriber doesn���t pay despite being reminded, the telecom firm first cuts outgoing calls. It later stops incoming calls. And in case the customer���s cheques are dishonoured, the mobile operator sends notices to the subscriber. The last resort is to approach the court.

Like other creditors���Hindustan Unilever and HCL Infosystems���Tata Teleservices too is making all efforts to recover what it claims are dues owed to it from Subhiksha. The creditors are also not in favour of a reverse merger proposal, where Subhiksha would be amalgamated with a little-known company called Blue Green Constructions and Investments.

A winding-up notice, according to corporate lawyers, is a pre-condition to filing of a winding-up petition in the court.