Telenor approaches India's Company Law Board in Uninor case

Telenor approaches India's Company Law Board in Uninor caseTelecom sector player, Telenor ASA of Norway has approached the Company Law Board in India to bar its Indian partner, Unitech from obstructing its plans to operate its operations in India through a new arrangement.

"We have moved the Company Law Board to prevent any wrongful obstruction of our effort to secure our investments," the company said in a statement. The statement also said that the Telecom is voiding its partnership due to fraud and misrepresentation.

Earlier reports had indicated that Telenor might claim cost of losing Indian telecom licenses from Unitech. Telenor and Unitech jointly operate the Uninor brand in India through a joint venture. However, the two companies have decided to end the venture after the Supreme Court of India announced its decision to cancel 122 telecom licenses in the country.

Telenor will focus on settling its new partner before it will enter into an auction for airwaves that will be organized by the department of telecommunications. Telenor believes that its investment and its 36 million customers are threatened by the ruling in the county. The company might be forced to spend more to regain its licences.