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Hughes India arm fears closure over dues; banks may be at risk: Letter
U.S. satellite broadband company Hughes Network Systems may perhaps have to shut its Indian functions owing to unpaid levies owed to the governing administration, which could place hundreds of banking products and services at danger, a enterprise letter seen by Reuters showed. India’s Supreme Court docket late previous year requested a quantity of telecom companies, which include Hughes and much larger companies like Vodafone, to fork out billions of dollars owed to the governing administration. Hughes’ India device supplies products and services to defence, schooling and banking sectors in the region and informed India’s telecoms minister in a letter dated Feb. 20 that it faces personal bankruptcy as it can…