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Etisalat closes even, starts legal procedures in India

 
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Kirk
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PostPosted: Thu Feb 23, 2012 7:07 pm    Post subject: Etisalat closes even, starts legal procedures in India Reply with quote

The Abu Dhabi market gauge ADXGI advanced for the sixth consecutive day, closing 0.20% higher at 2,539.20 points. At the ADX, some 160.6m shares were traded, valued at Dhs191.3m. Dana Gas fell two percent to Dhs0.48. Market bellwether Etisalat closed even at Dhs9.56. Earlier in the day, Etisalat announced it has filed "proceedings of civil action in the Bombay High Court against Shahid Balwa, Vinod Goenka and Majestic Infracon Private Limited, the former promoters of Swan Telecom, for fraud and misrepresentation." Etisalat had to shut down its operations in India, running under the name Etisalat DB, for allegedly violating rules related to the sale of wireless, according to The National.

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