"The multinational may have only itself to blame for its angst."
Telenor is upset with last week's Supreme Court judgment cancelling its licence, along with 121 others, to provide telecom services in the country. The Hindu : Opinion / Op-Ed : You have to pay for wrong calls too, Telenor. Telenor's angst is understandable given the financial losses that it is now bound to suffer but then the company has only itself to blame.
Telenor is upset with last week's Supreme Court judgment cancelling its licence, along with 121 others, to provide telecom services in the country. The Hindu : Opinion / Op-Ed : You have to pay for wrong calls too, Telenor. Telenor's angst is understandable given the financial losses that it is now bound to suffer but then the company has only itself to blame.
"Caveat emptor" or buyer beware is a first principle in any commercial transaction and Uninor is guilty of ignoring it. Telenor probably believed - mistakenly in hindsight - that the Indian system can be “worked” any which way.
There is also an incorrect view among some that the judgment sends all the wrong signals to overseas investors. The judgment clearly underlines the supremacy of law in the country just as much as it provides clarity in future policy, something that foreign investors should welcome.
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