Tulip Telecom Ltd

Type: Company
Name: Tulip Telecom Ltd
First reported Mar 21 2014 - Updated Mar 21 2014 - 1 reports

Tulip Telecom MD accused of evading service taxes

The managing director of Indian enterprise data services provider Tulip Telecom, H. S. Bedi, has been arrested for allegedly evading taxes in the amount of INR 321.60 million. A case has also been registered against the comapny for failing to pay service ... [Published Telecompaper - Mar 21 2014]

Quotes

...latest Indian firm to opt for the Corporate Debt Restructuring (CDR) mechanism, under which creditors agree to change easing of repayment terms. "The debt-restructuring exercise will ensure better liquidity and enable the company to focus and strengthen its core operations" the company said in a release
"The facts and circumstances of the case relating to the noticee do not suggest any emergent or urgent reasons to continue with the directions issued against the noticee"

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