SC ALLOWS PROSECUTION OF MOTOROLA IN INVESTMENT CASE
The Supreme Court has set aside the Bombay high court judgment and allowed the prosecution of a
criminal complaint filed by Iridium India Telecom Ltd. against Motorola Incorporated. According to the complaint, Motorola induced Iridium India and several others to invest in a project which turned out to be a technological disaster. They collectively invested $70 million for purchasing equity in a subsidiary company as well as spent a sum of about Rs. 150 crore in setting up a gateway at Delhi in Pune. The complaint stated that the representations made by Motorola proved to be fraudulent and deceitful.
criminal complaint filed by Iridium India Telecom Ltd. against Motorola Incorporated. According to the complaint, Motorola induced Iridium India and several others to invest in a project which turned out to be a technological disaster. They collectively invested $70 million for purchasing equity in a subsidiary company as well as spent a sum of about Rs. 150 crore in setting up a gateway at Delhi in Pune. The complaint stated that the representations made by Motorola proved to be fraudulent and deceitful.
0 comments:
Post a Comment