Company Law Board returns petitions of Telenor, Unitech on technical terms

Meanwhile, he also suggested both the parties to sit together and mediate to reach an amicable solution. On February 24, Norwegian firm Telenor and its Indian partner Unitech had moved fresh petitions before the CLB to remove or restrain each other's representatives from their joint venture, Uninor. While Telenor had 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 had asked for maintaining the status quo of Uninor, and not allowing transfer of its assets to any other company without its consent. Telenor holds over 67 per cent stake in the joint venture, while the rest is with Unitech.