Bahrain’s telecom operator Batelco Group has said its fully owned subsidiary BMIC Ltd has commenced legal proceedings to enforce an agreement with India’s Siva Ltd and recover $184.79 million.
BMIC filed a claim in the UK High Court of Justice, Commercial Court, against Siva Ltd and Chinnakannan Sivasankaran, for failing to adhere to a Settlement Agreement, it said in a statement.
The parties had agreed on November 30, 2011 to settle a dispute arising from their involvement in a commercial venture in India and executed a Settlement Agreement.
BMIC is now pursuing legal action to enforce its rights under the Settlement Agreement and ensure Siva Ltd and Sivasankaran meet all their obligations, as agreed and in accordance with the jurisdiction of the Courts in England and Wales, said the statement.