Media yesterday reported that India’s Central Bureau of Investigation (CBI) was investigating claims into whether SingTel and two Indian mobile operators — Bharti Airtel and Tata Communications – had provided international long distance calling services without being in possession of the required licenses. The CBI said the actions had cost the state approximately $8.9 million (48 crore).
The company today released a statement explaining that it “denies and will actively defend itself against the allegation”, while adding that it is yet to be notified of any official charges being brought against it.
Bharti and Tata have also denied wrongdoing. Here’s the SingTel statement in full:
According to media reports, the Central Bureau of Investigation (CBI) in India has registered a case against SingTel, together with two other Indian telcos, for allegedly providing international long distance services to Indian customers without a license. No official charges have been brought against SingTel.
SingTel denies and will actively defend itself against the allegation. As a long term strategic investor, SingTel respects and conducts its business according to applicable laws in the countries it operates in.
SingTel is renowned for its high corporate governance and transparency standards. It has been assisting the relevant Indian authorities in preliminary enquiries and will continue to render its full co-operation.
SingTel has mobile businesses in a number of markets, including Australia, Indonesia, Thailand, the Philippines and its headquarters in Singapore. It is the second largest shareholder in Bharti — India’s largest operator — by virtue of its 32 percent stake.
The SingTel Group posted annual customer growth of 9 percent in the final quarter of 2012. Though its overall group revenue was down 4.8 percent year-on-year, its businesses across Southeast Asia netted impressive growth figures.
Headline image via ROSLAN RAHMAN / Getty Images