CLB adjourns BPL hearing to July 30

The company law board (CLB) today adjourned for July 30 the hearings of the main petition filed by BPL Group patriarch T P G Nambiar against the alleged sidelining of him by his son-in-law and CEO of BPL Communications Rajeev Chandrasekhar in the telecom business.

K K Balu, vice-chairman, CLB (Chennai), in his order, directed the respondents to file the rejoinder, if any, by July 20.

"All the pleadings will be completed by July 29," Balu said.

Meanwhile, France Telecom, which sold off 26% stake in BPL Mobile Communication, the cellular operator in Mumbai, moved a deletion application at the CLB seeking to be removed as a respondent in the case.

The counsels representing France Telecom told the court that the company had sold off its stake some time back, much before Nambiar moved the CLB.

France Telecom as part of its global strategy exited the venture by selling 9.9% of the stake to the Essar Group and the remaining to an "unknown" holding company.

France Telecom's application will be taken up on Aug 6.

Chandrasekhar controls BPL's telecom businesses through BPL Communications, the holding company for BPL Mobile Communications and BPL Mobile Cellular, which operates cellular business in Tamil Nadu (excluding Chennai), Kerala and Maharashtra (excluding Mumbai).