दूरसंचार विभाग
Tata Communications Limited (TCL) has the license to provide an International Long Distance (ILD) service. The promoter of TCL is Panatone Finvest Limited (PFL), which is a subsidiary of Tata Sons Limited (TSL). This information is there in the annual report of TCL and TSL.
Section 69 of Companies Act, 2013 (18 of 2013) provides the definition of a promoter. Section 2(1)(pp) of the Securities and Exchange Board of India (SEBI) Regulations titled Issue of Capital and Disclosure Requirements, 2018 provides the definition of a promoter group.
TSL would be in the promoter group and the Holding Company of the TCL.
TSL has a long and extensive history of committing extreme crimes against this country. Let me elaborate on this.
More than 50% of the share capital of TSL is held by two philanthropic Tata Trusts namely Sir Dorabji Tata Trust and Sir Ratan Tata Trust (referred to as Trusts). So, these Trusts are in the promoter group of many Tata companies.
These Trusts have a long history of extreme crimes in collusion with the Government of India in the publicly funded institutes in Mumbai and Bengaluru. The provisions of the Indian Penal Code include Sections 124A on Sedition, 370 on trafficking, 405 on criminal breach of trust, 378 on theft etc. These institutes are Tata Memorial Centre, Tata Institute of Fundamental Research, Tata Institute of Social Sciences, and Indian Institute of Science.
I have filed Police complaints on these crimes and soft copies of these complaints is available at the link in the supporting document.
Tata companies, with TSL as the Holding Company, did not disclose the crimes of these Trusts, which were in their promoter group, in the stock market filings or in the defence contracts they won where it is specifically asked if they committed a transgression in any Government organisation.
The legal provisions that apply for such omissions include Section 447 of the Companies Act 2013. For the case of the defence contracts, I argue that Sections 415 and 420 on cheating, 378 and 379 on theft should also be applied.
Info needed:
The form for applying for the ILD license that I checked does not appear to have kept up with the SEBI regulations in the sense that there is no mention of a promoter group although the term promoter is mentioned. Nevertheless, in view of the Section 447 of the Companies Act 2013, which mentions terms like fraud, wrongful gain, and wrongful loss including public interest, TCL had to provide info of the crimes of TSL to the Department of Telecommunication (DoT). It stands to reason that if the TCL came clean on the crimes of TSL, then DoT would most likely not give them the ILD license. But let me not make any guesses.
Please say clearly if Tata Communications Limited provided the info of the aforesaid crimes by Tata Sons Limited, which is its Holding Company and whose subsidiary Panatone Finvest Limited is its promoter, while seeking the license for the International Long Distance.