Live Post
Infosys MD & CEO Vishal Sikka resigns, Pravin Rao interim chief
Rescue Hyderabad minor from Omani sheikh: Maneka Gandhi to Sushma Swaraj
After SBI, now HDFC Bank and Yes Bank cut interest rate on savings
Election Commissioner speaks out: 'Winning at all cost, without ethics, is new normal in politics'
Karti Chidambaram says will appear before CBI on August 23, seeks protection
USS Fitzgerald captain during collision that killed 7 to lose command

Digicable to clear Sun Distribution’s dues in three instalments

MUMBAI: Cash-strapped multi-system operator (MSO) Digicable has agreed to clear its dues to Sun TV Network’s distribution arm Sun Distribution Services in three instalments.

The MSO’s decision came on the heels of a recovery petition filed by Sun Distribution in the Telecom Disputes Settlement and Appellate Tribunal (TDSAT).

Digicable counsel Sharath Sampath said that the MSO will pay Sun Distribution Services a sum of Rs 25 lakh (Rs 2.5 million) by the end of this week, another sum of Rs 20 lakh (Rs 2 million) by 10 May and a third instalment of the same amount by 31 May.

Sun Distribution Services counsel Abhishek Malhotra had stated that the MSO owes over Rs 2 crore (Rs 20 million) to the distribution company, a claim that Digicable did not deny.

The tribunal has also directed the parties to appear before the Mediation Centre of the tribunal on 5 May. The tribunal said that both sides will be represented by officers who are duly authorised to take decisions on behalf of their respective principals in course of the mediation proceedings.

Sampath submitted that if the parties are referred to mediation, the respondent may try to persuade Sun for giving some substantial discounts.

Malhotra submitted that the petitioner has heavy dues recoverable from the MSO and in order to show it is bona fide, it must make some payments.