Cable TV


"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
Competition regulator okays Goldman Sachs stake purchase in Den Networks

Investment banking major Goldman Sachs has received the Competition Commission's approval to increase its stake in Den Networks to over 24 per cent by acquiring additional shares through preferential allotment route.

Cable TV Multi System Operators
DAS petitions challenging constitutional provisions listed for 3 November

With the division bench taking cognisance of several cases relating the digital addressable system (DAS) Phase III which challenge constitutional provisions, the Delhi High Court will hear the DAS cases on 3 November, 2016

Cable TV DAS
MSOs finally cross 1000 as pan-India DAS deadline nears

With less than three months to go for the deadline of the final phase which will complete cable digitlization all over the country, the total number of multi-system operators has finally crossed 1000 with 774 getting provisional licences till 30 September 2016.

Cable TV Multi System Operators
Several DAS III petitions may be transferred to Division Bench of Delhi High Court

NEW DELHI: The Digital Addressable System (DAS) Phase III legal wrangle is moving on, albeit slowly and steadily.  Lawyers appearing on behalf of the multi-system cable TV operators (MSO) will inform a single-judge bench of the Delhi High Court about a large volume of cases relating to DAS III...

Cable TV DAS
Going a la carte with Star and Indiacast has helped: Bibhu Prasad Rath

Bhibu Rath heads one of the small regional cable TV players in the TV distribution business: Ortel Communications. The MSO began as a local player in the state of Odisha. But, it has since spread into neighboring states such as Chattishgarh, West Bengal, Andhra Pradesh and Telangana. In fact, it...

Cable TV Multi System Operators
Bihar govt trebles cable TV entertainment tax to Rs 50

Even as the government is working on subsuming entertainment and other incidental taxes into a goods and service tax (GST) which would be around 18 per cent, cable TV subscribers in Bihar are about to be delivered a blow to their wallets.

Cable TV Multi System Operators
DEN seeks Goldman Sachs investment nod from shareholders

MUMBAI: Leading Indian multisystem cable TV operator (MSO) DEN Networks –promoted by Sameer Manchanda- which got its board’s nod to issue another 1.58 crore shares at a price of Rs 90 per share to existing investor Goldman Sachs is now seeking shareholder approval for the same through an...

Cable TV Multi System Operators
NXT Digital-InCable merger gets shareholder nod; D’Silva bemoans lack of ecosystem support

MUMBAI: Hinduja Ventures Ltd’s (HVL’s) proposal to demerge its NXT Digital headend in the sky (HITS) business from its subsidiary Grant Investrade Ltd (GIL) and merge it into its cable TV MSO offshoot Indusind Media & Communications Ltd (IMCL) got the thumbs up from its shareholders at its...

Cable TV Multi System Operators
Comcast to launch wireless service using Verizon

Here is good news for all Comcast subscribers. The US cable giant’s chief executive Brian Roberts has announced the launch of a wireless service by mid-2017. It plans to create a service that would run on its 15 million WiFi hotspots and use Verizon's wireless network through a deal struck in 2011...

Cable TV Multi System Operators

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories