INCABLENET: FEUD ERUPTS AGAIN

The battle for control between the three original promoters of InCablenet and their backers, the Hinduja-run IndusInd Media, reached flash point last week. The three promoters led by Jagjit Singh Kohli rejected the Hinduja offer of chairmanship for Kohli. The trio held meetings with affiliates of the 2- million-odd subscriber strong cable TV network trying to get them to break away.

The Hindujas led by Srichand Hinduja held a meeting with the same affiliates a couple of days later telling them that they should not part company with IndusInd Media. He explained to InCablenet affiliates that he was willing to pump in money into the cable TV network as long as they did not hold a gun to his head. He, apparently, said that he would prefer to close down InCableNet rather than give into their bullying threats. That apparently seemed to have worked as the affiliates have decided to stay put.

The trio - Kohli, Yogesh Shah and Yogesh Radhakrishnan - has agreed to function in an advisory capacity with the reins of the company in the hands of recently inducted CEO Ram Hingorani. The three have been resisting handing over control of Hindi music channel ATN and have been demanding more say in the running of the cable TV network and more executive powers in IndusInd Media, the parent company. However, they seemed to have called a truce - at least for the moment.