Who are the creditors of Chinnakannan Sivasankaran?
Sivasankaran’s story is full of high drama. On August 26, 2014, the Supreme Court of Seychelles declared Chinnakannan Sivasankaran bankrupt. An official receiver will compile a list of Siva’s assets and sell them to pay back his creditors. Amongst Siva’s creditors, the largest is BMIC, a Bahrain Telecom or Batelco company.
How big is Sivasankaran’s house in Salt Spring?
The Salt Spring estate is decidedly modest compared to his other real estate sprees like the “Hammer Time” mansion in California — a 40,000-square-foot enormity with gold-plated gates and a 17-car garage that he bought from M.C. Hammer when the rapper could no longer afford to keep it.
Why did Sivasankaran become a citizen of Seychelles?
Sivasankaran has proved slippery in the past: Bahraini telecom operator Batelco spent years chasing him through courts in the U.K., India and the Seychelles — where at some point he’d become a citizen — to pay a claim related to a failed joint venture.
How did Sivasankaran make his money in India?
Sivasankaran built a fortune starting in the 1980s by anticipating the wants of India’s aspirational consumers: cut-rate personal computers, mobile phones, a Starbucks-copycat named Barista. Siva Group, the sprawling conglomerate he founded, claimed annual revenues of $3 billion at one point.
How much does C Sivasankaran own in TTSL?
Sivasankaran, who claims to own 5% in TTSL, said he will also write to Tata Sons to sue Mistry because the scuppered deal would have cost the group Rs 26,000 cr. A CBI spokesperson said that initial investigations had just commenced and no summons had been issued to any individual in the case.
When did C Sivasankaran start his own company?
Sivasankaran started the telecom firm in 1999, launching services initially in Tamil Nadu. In 2005, he sold it to Malaysia-based Maxis Communications, founded by Ananda Krishnan. According to sources, the former promoter of Aircel is readying his legal team to defend his name in the Tata-Mistry battle.
Who are the largest creditors of Aircel Sivasankaran?
Amongst Siva’s creditors, the largest is BMIC, a Bahrain Telecom or Batelco company. In a statement issued from Manama in Bahrain, Batelco CEO Alan Whelan said that the bankruptcy will not “…thwart our determination to recover the substantial monies that he owes us.”