Mr. Ratan Tata's disastrous foray into telecom sector has been well documented and publicized in the infamous Nira Radia tapes. But what is more appalling is the handling of Tata Teleservices spat with NTT DoCoMo. In 2008, when Mr. Ratan Tata was at the helm of Tata Sons, NTT DoCoMo purchased equity in Tata Teleservices. The agreement contained a clause that after three years, the Japanese company could exit through selling its equity either in a public listing or back to Tata Sons. The sale price was specified at half of its original investment. However, DoCoMo was unable to do so since a public offering was not viable and Tata Sons surprisingly claimed that the pre-fix price was against Reserve Bank of India (RBI) rules. A subsequent international arbitration ruled that Tata Sons must pay USD 1.17 billion to DoCoMo for breach of contract.