Tata Tele Board extends term for MD Srinath till March end

Board of Tata Teleservices has extended the term of managing director N Srinath till March end. The MD’s term was stipulated to get over this January end.

“ ...we would like to inform you that the current term of Mr. N. Srinath as the Managing Director and Key Managerial Personnel of the Company is till January 31 ,2020 and the Board of Directors of the Company at its meeting held on January 30, 2020 has extended it till March 31, 2020. This is subject to the approval of the Members of the Company and such other approvals, as may be required,” said the company in a regulatory statement on Friday.

Tata Teleservices has sold its consumer mobile business to Bharti Airtel and now is awaiting the Supreme Court’s directions on its modification application against statutory due deadline. The telco owes dues of about Rs 14,000 crore and will await the apex court’s order, hearing for which is slotted for next week.