  The revolution devours its own children, wrote a famous journalist during French revolution. This adage applies to 2G scam. An English Court has ordered freezing assets of C Sivasankaran, Indian promoter of S Tel for failing to pay $212 million to its foreign partner Batelco. S Tel exposed 2G scam by filing and winning a case in the Supreme Court.
On July 16, the English High Court ordered a worldwide freeze on global assets of Sivasankaran and Siva Ventures Ltd (SVL). Sivasankaran has also been asked to give disclosure of his assets.
“Batelco Group has demanded full payment of the judgment debt totalling $ 212 million awarded by the English High Court of Justice against Chinnakannan Sivasankaran and Siva Limited (the defendants) following successful litigation in England. The judgment, made in the Commercial Court of the English High Court of Justice fully upheld the claim of BMIC Limited (a fully owned subsidiary of Batelco),” according to a press statement issued by the batelco group.
“The Court held that the defendants had failed to honour a Settlement Agreement signed in November 2011 relating to a commercial venture into which both parties had entered in 2009. The defendants were ordered to pay the judgment debt by 26 June 2014. However neither Mr. Sivasankaran nor Siva Limited has complied with the Court’s order as no payment has yet been made.”
Batelco Group CEO Alan Whelan said “We had hoped that Mr. Sivasankaran and Siva Limited would honour the judgment and thus the terms of our original agreement. The defendants are now in breach of the court’s ruling and we require immediate payment of the full judgment. The Court found no merit whatsoever in the arguments made by the defendants in the case and we cannot see why the payment has not been made. We will pursue all legal avenues available to us wherever Mr. Sivasankaran and Siva Limited have assets, in order to secure this payment assisted by the worldwide freezing order which we obtained from the English High Court on 16th July, 2014.” |