New Delhi: The stand-off between Bharti Airtel and Telecommunications Consultants India Limited (TCIL) regarding dividends of Bharti Hexacom may end soon.

Like other shareholders, Bharti Hexacom has agreed to pay 20 percent dividend from 2012-13 to TCIL.

The tussle between the two companies over the dividends of their joint venture Bharti Hexacom was going on from a long.

Started in 1995, Bharti Haxacom provides telecom services in Rajasthan circles. Seventy percent stake in the company is owned by Bharti Airtel and remaining 30 percent by TCIL.

But, the Bharti Group never paid dividends to TCIL. The Bharti Group argued that the profits earned from the joint venture were spent in the expansion of Bharti Hexacom itself.

The TCIL has demanded that the Bharti should pay dividend to Bharti Hexacom for 2010-11. For this time period, Bharti had declared Re 1 dividend for every share.

According to Bharti Group, accounts for last year have been closed and it is impossible to provide dividends for 2010-11.

Sources said that an agreement has been reached to provide dividends for the current fiscal year.

The two companies were at loggerheads on selling their stakes in the joint venture.

JPN/Bureau