I was victim in Tata Tele deal: Sivasankaran

He was responding to reports that he had reneged on buying a part of NTT Docomo's stake

Businessman C Sivasankaran on Thursday said he was not a beneficiary but a victim in his deal with Tata Teleservices. 

He was responding to reports that Tata group had issued Tata Teleservices shares to him at a discount and he had reneged on buying a part of NTT Docomo’s stake while it was exiting the company.

Sivasankaran said he had been raising various issues related to his investment in Tata Teleservices. He has started preparing a draft legal notice to the Tata group and NTT Docomo seeking compensation for mismanagement of Tata Teleservices.

"We will try to seek reconciliation by way of mediation with the Tata group," Sivasankaran said. He said regarding the demand for his share of payment to NTT Docomo, the deal was not approved by the Reserve Bank of India and thus the demand was not valid. 

Sivasankaran also wrote letters to former Tata group chairman Cyrus Mistry in 2013, seeking a meeting to explain the circumstances under which he invested in Tata Teleservices.