DoCoMo not cooperating to resolve dispute: Tatas

MUMBAI: Tata Sons on Sunday accused its erstwhile Japanese partner, NTT DoCoMo, of not cooperating with it to find an "amicable" solution to the $1.17-billion payment dispute. Tata Sons said that despite several attempts, DoCoMo has refused for a joint pitch before the government and the regulator over the arbitration dispute.

Tata Sons, the promoter of major Tata companies, said DoCoMo is "confusing our intent to pay with what is legally payable by us", emphasizing that its intention remains to pay but "within the confines of the law".

Tata Sons had moved the Delhi high court to stop the enforcement of the award won by DoCoMo in a London arbitration court. DoCoMo had dragged Tata Sons to international arbitration after the Japanese giant was denied an exit from the telecom venture at a pre-assured price which is half of its original $2.7-billion investment.

In an affidavit filed in the Delhi high court last Friday, Tata Sons said that it couldn't make the payment as the RBI prohibits transactions at a pre-agreed price.

DoCoMo, however, said that local rules only regulate the payment of hard currencies by Indian companies and under the norms, payment from Indian companies' overseas assets or funds cannot be blocked. Tata Sons, on the other hand, argued that the group's overseas entities weren't a party to the dispute with DoCoMo and hence its foreign assets could not be seized. Tata Sons has deposited $1.17 billion with the Delhi high court.