A dispute over alleged unpaid dues between Japan’s mobile phone operator, NTT DoCoMo, and the Tata group could involve the latter’s assets in Britain, according to a UK media report.
The Japanese firm has served an order from London’s Commercial Court against Tata Sons which allows DoCoMo to enforce an arbitration deal, made in London in June, against Tata Sons’ assets in the UK, The Financial Times reported.
Tata Sonsowns 29 per cent stake in Tata Steel, which includes embattled UK steel units, and a 23 per cent in Tata Motors, which includes the Jaguar Land Rover (JLR) brands in the UK.
The latest development follows DoCoMo’s rejection of Tata Sons’ offer to deposit $1.17 billion — a penalty awarded by an arbitration panel — with the Delhi High Court registrar.
The dispute relates to DoCoMo’s exercise of its right to exit from Tata Teleservices — its joint venture with the Tata Group.