DoT has also asked TCIL to subscribe to the rights issue offered by BHL to the fullest extent and fund it from internal resources.
In a letter to G D Gaiha, chairman and MD of TCIL, DoT said: "TCIL should not divest its 30% equity and continue to have its stake in BHL. TCIL should subscribe to the rights issue offered by BHL to the fullest extent and it should be subscribed by TCIL from its internal resources."
TCIL had planned to divest its 30% stake in BHL, and had invited bids for the same as it wanted to exit the cellular business.
Bharti group has a 67.5% stake in BHL, and had made a bid to acquire the 30% stake in the company. Shyam group, the original promoters, had also made a bid to acquire TCIL's stake.
