Tags: FLAG, International Chamber of Commerce, Reliance, Reliance Communications, Reliance Globalcom, Tata, Tata Communications, VSNL

Tata Communications to pay fines to Reliance Communications

Tata Communications has now been told to pay damages and fines to rival company Reliance Communications.

These fines are related to the dispute in which Reliance Globalcom was denied access to cable landing station in Mumbai.

Reliance said that the fines would come to around $21.42 million including interest payments.

International Chamber of Commerce has awarded this fine to Reliance which owns Reliance Globalcom which was previously known as FLAG.

Market experts believe that Tata should be pleased with the ruling considering Reliance was asking for damages worth around $385 million.