Reliance's arm pays $35 million fine

08 Mar, 2005

The telecommunications arm of India's leading private conglomerate Reliance, accused of improperly rerouting international calls, paid Monday 1.5 billion rupees (35 million dollars) to the government. Reliance Infocomm said in a statement that the payment to the Department of Telecommunications was not an admission of guilt but was made only "so that the issues in dispute can be viewed dispassionately."
"There has been no impropriety on our part. We have full faith in the judicial process and are confident of vindicating our stand," it said.

Read Comments