No investments in telecom sector: Apollo Hospitals
The Apollo Hospitals Group has clarified that the family members of Prathap C Reddy and the group do not have any investments in the telecom sector.
By ET Bureau | Updated:
MUMBAI: The Apollo Hospitals Group has clarified that the family members of Prathap C Reddy and the group do not have any investments in the telecom sector.
The statement from the group notes that Sindya Securities and In-vestments has invested in Deccan Digital Networks and holds 74% in the equity capital of Deccan Digital Networks. Deccan Digital, which owns 35% stake in Aircel, raised the balance funds through redeemable preference shares to fund its investments into Aircel and obtained FIPB approval for the same.
The investments of Sindya Securities in Aircel have been in compliance with applicable laws of India and all regulatory con-sents /approvals, wherever required, have been sought and duly granted by the relevant authorities, it said.
The statement from the group notes that Sindya Securities and In-vestments has invested in Deccan Digital Networks and holds 74% in the equity capital of Deccan Digital Networks. Deccan Digital, which owns 35% stake in Aircel, raised the balance funds through redeemable preference shares to fund its investments into Aircel and obtained FIPB approval for the same.
The investments of Sindya Securities in Aircel have been in compliance with applicable laws of India and all regulatory con-sents /approvals, wherever required, have been sought and duly granted by the relevant authorities, it said.
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