The CBI has registered a Preliminary Enquiry report, which names the lead 2G prosecutor AK Singh and Unitech MD Sanjay Chandra. ...
08:12 PM, Feb 11, 2013
A former top Department of Telecom official on Tuesday told a Delhi court trying the 2G case that four counters were set up for distribution of letters of intent to eligible telecom firms on January 10, 2008 as only four directors were available in the Access Service Cell of the department. Deposing as a prosecution witness in the case, DoT's erstwhile Member (Technology) K Sridhara said the large number of...
08:03 PM, Dec 11, 2012
New Delhi: The Supreme Court on Friday directed the government of India to refund Rs 400 crore that was collected from telecom companies as penalty after they failed to meet the rollout obligations. The companies included Unitech, Aircel, Dishnet, Systema and Videocon. More details are awaited. ...
02:01 PM, Nov 23, 2012
New Delhi: Realty firm Unitech on Thursday said it has amicably settled all disputes over its telecom joint venture Uninor with Norway's Telenor and it would exit from telecom joint venture with Norway's Telenor by disposing of its entire shareholding in Uninor. The realty company which ventured into telecom with a tie-up with Uninor says it will sell its entire shareholding to the Norwegian firm. It will also withdraw its...
10:34 AM, Oct 11, 2012
New Delhi: The Delhi High Court will begin hearing Telenor's plea seeking Rs 6400 crore as indemnity from Unitech on Tuesday for losses incurred after following the cancellation of their joint venture Uninor's 2G spectrum licenses. Unitech is expected to respond in the apex court on Tuesday. Telenor, which also sought a direction to freeze Unitech's assets, has alleged Unitech misrepresented facts before formation of their venture Uninor brand. Uninor's...
10:31 AM, Oct 09, 2012
New Delhi: In a blow for former telecom minister A Raja, his former private secretary RK Chandolia and telecom firm Unitech, key witness AK Srivastav stood by his evidence against the three. Raja failed to dissuade the DoT official. During his cross examination, DoT official Srivastav reiterated that Chandolia at Raja's behest asked him if Unitech's application had come and also instructed that no application be taken after Unitech. Raja...
03:39 PM, Sep 11, 2012
New Delhi: Unitech Ltd, Telenor's minority partner in its Indian mobile telecoms joint venture, has filed a petition with the country's Company Law Board seeking to stop the joint venture company from auctioning off its assets, a Unitech spokesman said on Thursday. In an auction notice on Wednesday, the joint venture, which operates under the Uninor brand, invited potential bidders to express interest by August 6 and said its majority...
08:08 PM, Aug 02, 2012
New Delhi: Intensifying row with its minority stakeholder, Norway's Telenor-controlled Indian venture Uninor on Wednesday put on auction its entire telecom business for a minimum of Rs 4,000 crore, a move opposed strongly by Unitech. The Nordic countries' biggest phone operator wants to scrap the joint venture with Unitech and migrate its business to a new company to seek fresh operating licences as the JV's 22 telecom permits were among...
12:32 PM, Aug 02, 2012
New Delhi: In a major setback for former telecom minister A Raja and his former private secretary RK Chandolia, former telecom department official AK Srivastava has testified that Chandolia had asked him not to accept any more applications once Unitech's was received. The CBI in its chargesheet had alleged that Chandolia and Raja got into a criminal conspiracy to wrongly favour Unitech. Srivastava's testimony supports the CBI's claims of conspiracy...
03:13 PM, Aug 01, 2012
New Delhi: Unitech Ltd, facing trial in the 2G spectrum allocation case, had readied itself four months in advance with the demand draft to secure the government's letters of intent (LoIs) for grant of radio waves to it, a former executive of the firm told a Delhi Court on Wednesday. Mohit Gupta, who worked as an executive in Unitech Ltd from March 2007 to May 2010, told the court that...
04:59 AM, Apr 26, 2012
New Delhi: The Company Law Board has allowed Unitech Ltd's plea to refer a dispute over its telecoms joint venture with Norway's Telenor for arbitration in Singapore, potentially delaying a resolution. Telenor said in a statement it was "surprised" by the Company Law Board's order and would challenge it in a higher court, adding its intention remained to establish a new venture in India. Telenor is seeking to scrap the...
04:01 PM, Apr 12, 2012
Mumbai: Unitech Ltd said it has applied to a local court seeking to restrain Norway's Telenor from investing in any new telecoms venture in India that would compete with companies' existing joint venture. Unitech, a property company, is also seeking an injunction against Telenor's plans to transfer the joint venture's business to a new company, it said in a statement on Friday, adding the move was aimed at protecting its...
02:50 AM, Mar 31, 2012
New Delhi: The Income Tax Department has seized shares of Unitech Group companies through which the realty firm holds stake in mobile telecom firm, Uninor. "We can confirm that Uninor is in receipt of notices from the Income Tax Department stating that the shares owned by Unitech Ltd, through their companies Acorus, Cestos and Simpson, in our company have been attached," Uninor said in a statement on Wednesday. Unitech, which...
06:20 PM, Mar 28, 2012
New Delhi: A joint team of the Enforcement Directorate and the CBI will travel to the tax haven nation of British Virgin Islands in connection with its probe against various entities in the 2G spectrum allocation case. The team will leave for the island nation on March 9 after the ED obtained certain leads in the investments made by real estate firm Unitech in the foreign country and also about...
06:32 PM, Mar 07, 2012
New Delhi: Norwegian firm Telenor and its Indian partner Unitech have moved the Company Law Board (CLB) separately, trading charges against each other over control of their joint venture, Uninor. While Telenor said it wants to prevent any "wrongful obstruction" of its effort to secure its investments in the country, Unitech said its petition was to prevent the Norwegian firm from "assuming full control over the business including assets of...
07:27 PM, Feb 27, 2012
Oslo: Norway's Telenor on Tuesday dumped its Indian telecoms partner which it accused of "fraud and misrepresentation" and said it would migrate its Indian business into a fresh venture to seek new operating licences. The latest twist in the mobile phone licensing scandal came only weeks after Telenor said it might abandon India. The Supreme Court on February 2 revoked 22 mobile licences held by Telenor's Uninor joint venture in...
08:45 AM, Feb 22, 2012
Mumbai: The Nifty took a breather on Thursday after three days of a stellar rally that pushed the benchmark index to six-month high of 5540. A gush of liquidity or Hot Money as we call it, of close to USD 4 billion, has made its way into the Indian market so far. The investor's appetite towards risky assets has also improved over the past two months. The hopes of rate...
09:16 AM, Feb 16, 2012
New Delhi: Telenor Group is seeking indemnities from Unitech and a new local partner, reports CNBC-TV18's Siddharth Zarabi. There is no mention of the warranty claims or the amount that is sought as compensation. The press release talks about the share purchase agreement, share subscription agreement, at the time, when Telenor invested in this company. That, therefore, must definitely have a lot to say on that matter. Telenor is not...
08:47 AM, Feb 16, 2012
New Delhi: Concerned over the impact of the recent Supreme Court verdict cancelling 122 2G licences, Norwegian IT Minister Rigmor Aasrud has sought an appointment with her Indian counterpart to discuss the issue as the government braces itself up for diplomatic parleys. Aasrud, Norwegian minister of government administration, IT and church reforms, arrived in the national capital on Sunday on a "pre-scheduled visit". "The visit had been planned for more...
04:46 PM, Feb 06, 2012
Oslo: Norwegian telecom firm Telenor could quit India now after the Supreme Court revoked its mobile licences and not wait for new market rules to be introduced, the company's chief executive told. The Supreme Court on Thursday revoked 122 telecoms licences issued under a scandal-tainted 2008 sale, including 22 licences Telenor holds via Uninor, a joint venture with real estate firm Unitech. Affected licence holders can operate for four months,...
11:50 PM, Feb 02, 2012
