radiaSRT/srt/78 Ganapathy Jun 19 2009 22 59 09.srt

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(Phone rings)

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Ganapathy: Hello?
Niira: Hi, .... really sorry, I'm sorry about today, I got stuck in Gurgaon.

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G: No no no, I could understand. Just wanted to brief you a little bit. One <i>toh</i> you would have heard about that RNRL filing some caveat or something, you know?

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N: Yeah, they'll have to file a caveat in Supreme Court because they're moving Supreme Court in any case.

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G: Yeah, yeah yeah. So I think today in the board meeting I think the mood was, I think, sort of, you know -

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N: There's no board meeting, I - Desh Chatterjee is hellbent on saying that there's a board meeting, there is no board meeting.

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G: Okay, so then what -

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N: There's been absolutely no - there has been absolutely no board meeting which has taken place at all.

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N: Desh Chatterjee, I don't know where he's getting this information from, it's completely wrong, I'm telling you, I won't misguide you -
G: No no -

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N: The board meeting, there is NO board meeting that is taking place today at all.

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G: Okay. But still -
N: - questions, and Manoj has told him categorically there is no board meeting that's taken place. There's no meeting, I don't know what he's talking about!

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G: Yeah, yeah, two theories they kept on - they keep on floating - one, board meeting; two is that compromise thing and whatever. And I think this Murli Deora has spoken something today.

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N: Yeah, he spoke to NDTV today, he said look, the government's going to have to intervene because it affects our revenue.
G: Hmm, hmm, hmm.

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N: As far as the brothers are concerned, it's best that they first settle their personal differences and deal with the price later, because the government will have to intervene in any case.

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G: Okay. <i>Achcha</i>, when will the Supreme Court thing be filed?
N: I don't know, Ganu, because this matter's, the fact that we're going to the Supreme Court without a doubt. I think that's not going tp be a, everyone's very clear about that - Um, I think that uh, we have a very strong case.
G: Yeah.

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N: Uh, the judgment has got lot of legal flaws. 
G: Mmhmm.

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N: It's almost like, you know, had Sunil Mittal pursued the TDSAT judgment enough, he would've managed to get  a stay on the spectrum issue but he didn't do it.
G: Hmm.
N: So I think that there's a lot of cause for this thing. So I don't know when, but -

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G: See, what'll happen is, when - as and when it go - the  application is made in the Supreme Court, if that information is given to me anyway, people will get to know. But if I get that information first, it will give me a handle to further you know, wherever needed intervene.

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N: I'll do that, but Ganu just, when I give to you just make sure that it also appears like today's story appeared in ET in the newspaper.

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G: No no, don't worry, 100%, when this happens and we get it, it will go up, just don't worry about that, (inaudible) will take care.
N: That will come to you.

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G: And also I will not tell anybody where it has come from. I will tell them I, it has come from lawyers.

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N: That's right, yeah.

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G: And the other thing is that, on spectrum, nothign has been decided only I think Pranab Mukherjee has given the target, you know, that this much is the money we need -

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N: No no no, Ganu, between you and me, 40:40 5+1 has been decided. What Siddharth Zarabi is saying is completely wrong: that the dates have been set. It's not been set. Basically the matter will go before the cabinet in a month's time, probably, and after that it will be three to four months before the auction takes place.
G: Hmm.

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G: Because you know, they're saying that this can't be done without CCA approval. So for CCA approval a note has to be made and given to the Prime Minister and uh -

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N: Correct this whole process is about a month,
G: Ya.
N: so it'll go to CCA before a month and then after that it'll, it'll - after the month it'll go to, after a month it'll take another three to four months. What Siddharth Zarabi is saying is that it'll take - it'll be done, the auction will be done on the 19th or 17th for 3G, 19th for WiMAX. It's absolute nonsense.

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G: Hmm, <i>nahin, woh to </i> I think...also you know, Sunil Mittal, I think, what I heard is that, Sunil Mittal probably has some constraints about this happening now because -

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N: No no no no no no, again, again that ADAG is treading. Let me clarify again that also, I don't have to do it for Sunil but let me tell you very clearly: he has got sufficient funding to bid for 3G now, including MDN happening there is absoluetly no issue. The person who's got the problem and is trying to block which Raja has told me first hand,- is that Niira, Anil doesn't want this to happen.

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G: But -
N: Anil has been calling Anil Saldhana also, uh, Satish Sheth said he's been calling, saying "<i>Hum log dono mil ke saath me baat karte hain.</i> (Let's both meet and talk), let us not allow the 3G to go ahead."

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G: <i>Tho</i> then why is Ramachandran - on whose behalf does Ramachandran intervene?
N: Ramachandran is working at another lobby, please look at it differently. Ramachandran is also looking at Aircell, because they are also a COI operator. He is also very much the Maran lobby.

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G: Oh, I see, aha ha, okay.
N: You see, you have to understand -you must remember one thing, Ganu, because now you're  handling policy, please keep in mind Ramachandran and Sunil Mittal: earlier when they said that Ramachandran spoke, it was Sunil Mittal. It is no longer. If you see, Bharti has made a comment very clearly that is is a longer (indiscernible).
G: Okay.

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N: Ramachandran is also playing the Maran card.
G: Oh, I see -

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N: Anything to attack Raja, he will do.

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G: <i>Nahin, </i> I thought the situation remained the same that Ramachandran is speaking Mittal's language, That's why I said -
N: No no no no no -

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G: <i>Ki</i> probably that he's...and then I tried to reason why and I thought that it could be MTN. But -
N: COI, the COI's split on this. Vodafone doesn't mind the auction, neither does Airtel. It is Aircel that has a problem, and Idea.

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G: Okay. <i>Achcha</i>, Vodafone has some applications in SIBB no? For that towers and all, that has all got cleared today.

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N: Yeah, <i>achcha achcha</i>, okay good.

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G: But at the same time there is one report about this DIBB asking for some information about this MTN and all. This uh Ajay Shankkar is saying <i>ki</i> you know nothing, if at all it has to be decided it has to decided by SIBB, and we are not going to take any stand on our own unless we are asked about it. You know when it comes to SIBB then you will be asked and only then we will take a stand.

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N: No I think Ajay Shankkar and all of them are very clear on MTN it's only Anil Ambani getting very desperate <i>ki</i> on one hand MTN is happening, on the other hand 3G is happening, what's going to happen to me because I can't sell my ...by the way, you may want to put a question to them: are they selling 74% to AT&T?

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G: Mmhmm.
N: RCom is selling 74% to AT&T.
G: Oh, I see, oh...

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N: Send them a query, send this to - I'll tell you one thing, Bodhi has bought out so much, it's unbelievable, you know?
G: Not only him, there are some other names also that I have mentioned to you.

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N: Yeah yeah yeah, that's right. So basically it's 74% to AT&T.
G: Mmmhmm.

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N: That they are talking to right now - I know this, I'll tell you why I know this, because just between you and me, I've been approached that I should talk to AT& - talk to Mukesh, so that AT&T's ROFR doesn't come in the way.
G: Hmm, hmm hmm.

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N: So my reaction to AT&T people was why should - I mean, if you want to take permission from Mukesh, you follow the process. Why should we comment in advance on what you want to do?
G: Yeah yeah, they should go and ask for it.

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N: <i> Haan, toh woh</i> 74% <i> ka chal raha hai</i> (So that 74% is going on), by the way, so maybe you wanna look at that.
G: But RCom doesn't, FII and others have some holding already.

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N: No, the 65% <i>hai na</i> (is there, right), total listed entity - <i>jo</i> holding <i>hai uski</i> (the holding he has), so it is 74% of that listed entity.

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G: Oh, out of that listed one, okay.
N: Out of that listed, yeah.

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G: Hmm, hmm. Amazing.

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N: Plus there is some other, plus they'll buy, ultimately their aim will be to buy out everything and remain 74%.
G: Which means that the company belongs to them, no? 
N: Exactly, the company -
G: The ownership changes hands.
N: Correct, correct.

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G: Incredible. He is doing all this now only to sell and cash out.

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N: That's what he's doing, so why don't you have a word with them, ask them, we understand that you're in talks with AT&T. They will deny, they'll say we don't comment on market speculation, what stops you from putting the story out, they can't deny it.

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G: Sure sure, I'll -
N: Send a query to AT&T also, -AT&T will say we can't comment but I know for a fact they approached the US Ambassador to put pressure, they put various people onto it, to put pressure on the fact that Mukesh should not come in the way of the ROFR.
G: Hmm, hmm hmm.

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G: Okay, definitely, I'll catch up with this on tomorrow itself.

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N: Yeah. Let me know whatever happens, but no board meeting today so let your people know. It's a bit silly, I think they're carrying the story but there's absolutely no board meeting today.

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G: I'll tell them, even that compromise story there was - despite everything they have planted it.

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N: No compromise story. I got a call today, we got a call today from Desh Chatterjee to say, we understand there's one meeting taking place in Sewri, there's another meeting taking place in Sea Wind, when I knew Mukesh was sitting in Maker Chambers. And they were giving me names of people who were sitting in Sewri - those people were all sitting in um Maker.
G: Hmm.

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N: So, (laughs), I you know, they're just floating anything and everything that they want to float.

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G: Must be Jhunjhunwalla feeding them, <i>na</i>.
N: <i>Woh</i> America <i>mein hai.</i> (He's in America)
G: <i>Achcha</i>, so that, somebody on his behalf.

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N: But I think Gaurav and gang, <i>na</i>. Gaurav and  Desh Chatterjee was pretty much excited about it, so <i>thoda zyada</i> excited <i> hai yeh </i> story <i>pe</i> (He's a little too excited about this story).
G: Yeah absolutely.

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G: Anyway, I'll tell our people, immediately speak to them and uh tell them this is wrong. And pursue the other one tomorrow.
N: Yeah, if they wanna - they're making a fool of themselves because it's not true.

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G: Yeah yeah yeah, I'll tell them. Already we've sufficiently made a fool of ourselves. Spreading that compromise story.
N: Absolutely, yeah.

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G: The compromise would have to happen it would have happened a long time ago.
N: Yeah yeah, absolutely. There's no compromise.

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G: And the (inaudible)...mid-way through the hearing also one's told them to do this. Involve the mother and all that. But it never happened.
N: Hmm.

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G: Anyway, I'll check that out and Monday I'll keep myself free.
N: Great then, look forward to it.

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G: Yeah, thanks.
N: One thirty, yeah -
(Tape ends.