Telenor, Unitech moved to Company Law Board to protect Interest in Uninor

Norwegian Telecom company Telenor and its Indian joint venture partner Unitech on 27 February 2012 moved a fresh petition before Company Law Board [CLB].

While Telenor in its petition to CLB requested for the "exclusion" and "removal" of Unitech MD Sanjay Chandra and his two other nominees from the "management and administrative affairs of Uninor, Unitech in its petition urged CLB to maintain the status quo of Uninor, and not allow the transfer its assets to any other company without its consent.The CLB is set to hear the cross petition of both the companies on 1 March 2012.

The two companies have been at loggerhead since Supreme Court’s verdict of 2 February 2012 of quashing all the 122 2G licences allocated by A Raja, the then telecom Minister. Both the companies are trying hard to protect their interest in the joint Venture Uninor which has a strong customer base in the country with nearly 4 crore people are using the brand at present.