Telenor,Unitech in CLB over JV row

The joint ventures 22 telecoms licences are among the 122 licences that were ordered to be revoked by the country8217;s Supreme Court earlier this month amid a probe into a scandal-tainted 2008 sale.

Telenor,which had bought into the JV after the licences were granted,last week accused Unitech of fraud and misrepresentation and said it would form a new company with a new partner. Unitech had termed Telenors move as shocking and that Telenor cannot terminate the agreement unilaterally.

Unitech said on Monday it would resist any mala fide and unilateral action by Telenor,reiterating its allegation that Telenor had been trying to push it out of the joint venture.

The real estate company said it filed the petition with the Company Law Board seeking to enforce its rights and to prevent Telenor from taking full control over the JVs business including its assets.

Telenor owns 67.25 percent of the joint venture,which operates under the Uninor brand. Unitech holds the remainder.

Uninor has been among the most aggressive of Indias newer telecom companies with nearly 40 million customers.