1. Home
  2. India
  3. DB Realty Distances Itself From Etisalat

DB Realty Distances Itself From Etisalat

New Delhi, Feb 11  :  Facing the heat after the arrest of its Managing Director Shahid Balwa, DB Realty today sought to downplay its relations with Etisalat DB Telecom company but maintained that it was
PTI February 12, 2011 11:02 IST
PTI
New Delhi, Feb 11  :  Facing the heat after the arrest of its Managing Director Shahid Balwa, DB Realty today sought to downplay its relations with Etisalat DB Telecom company but maintained that it was not looking for any restructuring of the ownership at this stage.

"First of all, I would like to clarify one thing that is DB Realty and ETISALAT DB have no connection," Vinod Goenka, the other Managing Director of the Rs 3,200-crore real estate firm said.

"There is no share holding of DB Realty in Etisalat DB barring the investments (in Swan Telecom) which are made by Shahid and me in our personal capacity. There is no other connection between the two companies. This I must clarify to everyone," he said.Balwa was arrested after he ignored CBI summon on two occasions.  PTI