We were incorporated as Birla Communications Limited on March 14, 1995, and granted a certificate of commencement of business on August 11, 1995.
The registered office was in Mumbai, Maharashtra. Our name was changed to Birla AT&T Communications Limited on May 30, 1996, following the execution of a joint venture agreement dated December 5, 1995, between AT&T Corporation and Grasim Industries Limited pursuant to which the Aditya Birla Group held 51% of our Equity Share capital and AWS Group held 49% of our Equity Share capital.
The registered office was transferred from Industry House, 1st Floor, 159 Church Gate Reclamation, Mumbai 400 020, Maharashtra to Suman Tower, Plot No. 18, Sector 11, Gandhinagar 382011 Gujarat on October 22, 1996. With effect from January 1, 2001, following our merger.
The Tata Group ceased to be a shareholder of the Company on June 20, 2006, when Tata Industries Limited and Apex Investments (Mauritius) Holding Private Limited sold all their shares in the Company to the Aditya Birla Group.
On October 26, 2006, P5 Asia Investments (Mauritius) Limited (“P5 Asia”) acquired 14.60% of our Equity Share capital. Under a Governance and Exit Rights Agreement dated October 23, 2006, between P5 Asia, ABNL, and Birla TMT, so long as an initial public offering has not occurred and P5 Asia holds no less than 10% of our Equity Shares, ABNL and Birla TMT are required to procure that (a) our Company and its Subsidiaries shall not take or pursue any of the following actions without P5 Asia’s prior consent including in respect of (i) any merger with, acquisition of, or amalgamation or consolidation with another company or business; (ii) assuming or permitting to exist any borrowings or indebtedness in the nature of borrowings if the amount of all such borrowings of our Company and its Subsidiaries would exceed Rs. 6,800 million; (iii) entering into a new line of business; (iv) increasing our authorized or issued share capital; or (v) entering into a joint venture and (b) our Company makes available to P5 Asia certain financial information relating to our Company and its Subsidiaries such as monthly management accounts, quarterly unconsolidated balance sheet, and profit and loss account and the annual audited consolidated balance sheets and profit and loss accounts.
We, either directly or through our Subsidiaries, provide mobile services in the Andhra Pradesh, Delhi, Gujarat, Haryana, Kerala, Madhya Pradesh, Maharashtra, and Uttar Pradesh (West) Circles, and have recently launched services and as such are in the process of fully rolling-out our network in the Uttar Pradesh (East), Rajasthan and Himachal Pradesh Circle pursuant to license issued by the Dot.
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