CHENNAI: Serial entrepreneur C Sivasankaran, who made audacious bets in telecom, has been given a second chance by a court which annulled his bankruptcy on Monday.
Sivasankaran had applied for bankruptcy protection in a Seychelles court to ward off a claim by his Bahrain-based telecom partner Batelco, which won a court decree for its $212-million claim on its investment in S Tel, for which Sivasankaran stood personal guarantee. S Tel’s telecom licences in India were cancelled along with 121 other licences by the Supreme Court in the 2G case.
Siva, as he is referred to in business circles, was declared bankrupt on the August 26, 2014. But Monday’s ruling by the Seychelles Supreme Court has enabled him to come out of bankruptcy.
Siva, w…
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