Aircel founder Chinnakannan Sivasankaran says he lost company as ‘politicians intervened’: India different now - Hindustan Times
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Aircel founder Chinnakannan Sivasankaran says he lost company as ‘politicians intervened’: India different now

By | Edited by Mallika Soni
May 24, 2024 03:16 PM IST

Success was a problem at that time, Chinnakannan Sivasankaran said in a podcast, adding, “Politicians intervened and I lost my company.”

Aircel founder Chinnakannan Sivasankaran said that today's India is very different from a decade back as at that time businesses faced significant pressures. Success was a problem at that time, he said in a podcast, adding, “Politicians intervened and I lost my company.”

Aircel founder Chinnakannan Sivasankaran is seen.
Aircel founder Chinnakannan Sivasankaran is seen.

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He said, “I just made a paltry sum of 3,400 crore from the deal, if I would have sold it to AT&T I would have got 8 billion (sic).”

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India today wasn't like the India then, he said, adding, "Today no one can pressurise you. Back then the entrepreneur had to face pressure to sell the company to a particular person".

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Aircel exited the market in February 2018 due to financial problems. In 2006, Maxis Berhad took over Aircel by acquiring a 74% stake. The Aircel-Maxis deal came under the scanner in 2011 when Chinnakannan Sivasankaran alleged that he was pressured to sell his stake to Maxis Berhad.

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Chinnakannan Sivasankaran said, “Now you build a business no one can pressure you. Now it is a liberalised India. My complaint is not that that they forced me to sell, my complaint is they should have allowed me to sell to who offered me 8 billion.”

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