Cable TV

"THE HINDUJAS TRIED TO THROTTLE AND KILL US FINANCIALLY"

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/08/04/indiantelevision.jpg?itok=6VEl0-rB

"Booz Allen had valued the MSO Indusind Media and Communications at Rs 15,000 million. We had a very clear-cut understanding with the Hindujas that at an initial investment of Rs 400 million, every rupee that the business appreciates, on the difference between the investment and appreciation, we will get 10 percent.

This is on paper. On the death of Raam Punjabi, based on the Booz Allen valuation, Rs 1,500 million was due to us. An equal share for the four of us was working out to Rs 400 million for Ram. Plus the 20 percent equity in Cable Video Opera (CVO), and the equity in IndusInd Media was 6 percent. The shares of all of these were asked for and were to be paid to the family of Ram Punjabi.

The Hindujas refused shamelessly. They went back on their word and dilly- dallied on the final agreement, putting new terms before us which were intolerable. We felt that if the Hindujas were not open to parting with a stake for a dead man, what are they going to give me when I am alive today?

What happens to me tomorrow if I am dead?

These were our concerns when we decided to quit.

At that time we did not have in our mind to get back, consolidate, create a parallel network. We were content with the music channel that we had started with great difficulty, with our own funding.

The moment we left, the Hindujas launched three or four false cases against us to malign us in the media and the business community. The idea was to throttle and kill us financially. Luckily God was on our side. We had goodwill from 15 years of hard work we had put in. We had a lot of people who came to help us, including people who the Hindujas had crossed on the wrong side. We flocked together and created this structure. We put up the channel, and it started doing extremely well. And then we started Wincable with Rajen Raheja, who had again, crossed paths with the Hindujas on various accounts.

They launched a complaint against us with the Economic Offences Wing of the Mumbai police, which accused us of fraudulently taking away some cable subscriber connections which actually were theirs. Stupid things like that. They said that my partner Jagjit Singh Kohli connived and issued cheques worth Rs 1.4 million. When the police investigated, they found that Jagjit Singh did not have signing powers of more than Rs 100,000.

The Hindujas put a lot of pressure on the police for a thorough investigation. The police have dismissed the case after a thorough investigation. They dismissed that there was a criminal conspiracy, and said that whatever dispute there is could be settled in a civil court when the time comes.

That was the first victory that we really had.

When we got this in our hand, we launched a case against them at the Thane court. This court has issued a process against all the Hindujas, Ram Hingorani, AK Das, and Hima Mehta, the communications head then.

Plus we have a civil suit in the Bombay High court suing them for Rs 10,120 million, which is pending hearing right now. The figure is based on the valuation that they have, the appreciation in CVO and IndusInd Media and Communications, besides damages for our mental torture and agony.

We have an extremely strong ground. We are not doing this to harass anybody. The fact is that we are fighting for our rights. We are trying to make a point. If in India, big industrialists start using entrepreneurs like us to help them build their business empire, and throw them away like a piece of toilet paper, I don't think anybody should tolerate it in today's world.

There are courts. Courts are fair. They may take a long time. I don't think they will take sides at this moment. And if you have a very strong case, they are definitely there to take cognisance of the breach of faith."

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/07/court.jpg?itok=VGZT1e9Z
MSOs move Madras HC seeking relief on inter-connect pacts

MUMBAI: The All India Digital Cable Federation (AIDCF) had filed a petition in the Madras High Court few days back pleading a directive to broadcasters to maintain a status quo on renegotiating agreements between TV channels and MSOs till a final judicial call was taken on TRAI’s new tariff regime...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/04/rajesh_0.jpg?itok=MdmBXAkK
Siti bullish on broadband: Rajesh Sethi

Mumbai: Despite uncertainty in many quarters, these are interesting times for people following the multi-system operator (MSO) industry. Recently, Siti Networks Ltd (Siti) released its Q2 and H1 results for 2017-18, reigniting the hope for growth in the industry. Announcing growth in operating...

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/30/louis.jpg?itok=BK_0OU5t
Louis Boswell appointed CASBAA CEO

CASBAA Association has appointed Louis Boswell, senior media and digital business leader in Asia, as the chief executive officer (CEO). Boswell will begin his tenure on 1 January 2018, succeeding outgoing CEO Christopher Slaughter.

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/28/Bibhu%20Prasad%20Rath.jpg?itok=ibHBXDgS
Multiple challenges weaken Ortel numbers in second quarter

Hit by multiple challenges, Indian regional multi-system operator (MSO) reported lower numbers and posted a net loss – the second one this fiscal- for the quarter ended 30 September 2017 (Q2-18, quarter under review). The company expects stabilization of business to happen one year down the line...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/20/comcast.jpg?itok=83-etJml
Now, Comcast in talks to buy 21st Century Fox

According to several reports, 21st Century Fox is on the block and Philadelphia-based cable TV conglomerate Comcast is interested. Comcast has approached Fox about acquiring most of the company. Reportedly, Verizon, the biggest wireless carrier in the US, has also thrown its hat into the ring....

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/13/casbaa.jpg?itok=INiAN1Jy
CASBAA elects new board directors

The Cable and Satellite Broadcasting Association of Asia (CASBAA) has announced the election of several new directors to its board, and the return of a number of long-serving directors.

Cable TV People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/13/cable%20800x800.jpg?itok=2G-o8INC
Workshop to train manpower in cable TV distribution

NEW DELHI: A workshop is being held on 27 November to deliberate on the importance of skilling, certification and accreditation of the manpower deployed in cable TV distribution.

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/10/Den-Networks_SN-Sharma.jpg?itok=xOHtVNMk
Higher subscription & activation lead Den's turnaround in Q2

BENGALURU: Indian multi system operator (MSO) Den Network (Den) reported growth in operating revenue, operating profit (EBIDTA) and profit after tax (PAT) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding year ago quarter. In Q2-17 (the corresponding...

Cable TV Multi System Operators
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/07/cable.jpg?itok=GZ9jF8MX
GTPL reports higher numbers for second quarter

Indian multi system operator (MSO) and broadband internet services (broadband) provider GTPL Hathway Limited (GTPL) has reported a year-over-year (y-o-y) growth in standalone as well subsidiary companies’ operating profits and net profits for the quarter ended 30 September 2017 (Q2-18, current...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories