Mumbai, Feb. 14: The Chennai bench of the Company Law Board has restrained BPL telecom firms from selling assets or licences till the outcome of a petition filed by group patriarch T. P. G. Nambiar is known.

The interim order, passed by law board member K. K. Balu, is seen as a setback to BPL Communication chief executive Rajeev Chandrasekhar, who has been locked in a bitter battle for control with son-in-law Chandrasekhar.

The curbs come weeks after the government hiked foreign direct investment (FDI) in telecom to 74 per cent. As a result of the order, no restructuring, including sale of assets or telecom licences, can be done ? at least until next hearing in the case, slated for April.

At its last hearing on Thursday, Chandrasekhar?s lawyers had argued that BPL's telecom ventures ? BPL Mobile Communications and BPL Mobile Cellular ? were planning a restructuring. Nambiar?s petition, he said, was aimed at blocking the companies? future plans.

BPL Mobile Communications holds the cellular licence for Mumbai telecom circle while BPL Mobile Cellular offers services in Tamil Nadu, Kerala and Maharashtra (excluding Mumbai). BPL Communication is the holding company. The CLB has asked BPL to maintain status quo in all telecom ventures.

Last September, the law board vacated its stay on the shareholding pattern of BPL Communications, the holding company for BPL?s cellular business. This followed a representation made by lawyers of Chandrasekhar.

Nambiar had filed a petition alleging that Chandrasekhar was mismanaging the cellular business and was trying wrest majority control of the company through ?questionable means?. These charges led to the stay order.