DB Group today said it has moved the Company Law Board (CLB) alleging failure on part of UAE-based telecom company Etisalat, its partner in the joint venture Etisalat DB Telecom, to perform certain obligations.
Etisalat, which had offered its experience and expertise to the Indian joint venture - Etisalat DB Telecom - has failed to perform certain obligations, DB Group said in a statement issued here today.
Etisalat, after conducting a detailed due diligence, had invested in the JV and offered experience and expertise as an international telecom operator by undertaking certain obligations under a Shareholders Agreement and a Management Services Agreement, DB spokesperson said in the statement.
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