The Gurgaon district court Monday dismissed real estate firm Unitech's plea the Norway's Telenor should not be restrained from partnering with any other Indian company in the upcoming spectrum auctions. This is a major boost for Telenor as it can participate in the upcoming airwaves sale on its own, or with a new partner.
ET has learnt that UnitechBSE 2.40 % will challenge the district court's order in the High Court.
In February, Telenor had served a divorce notice to Unitech and sought compensation from the real estate company after the Supreme Court cancelled 122 mobile permits.Telenor holds a little over 67% in their JV which offers mobile services under the Uninor brand, while Unitech owns the rest. The Norwegian telecom major had earlier filed an indemnity claim against Unitech and has accused the latter of fraud, and the value of this claim is Rs 6,400 crore with interest.
Last month, acting on a plea by Unitech, a Gurgaon District Court said that Telenor could not partner with any other Indian company but Uninor while bidding for spectrum in the upcoming auctions.Telenor, then approached the Punjab and Haryana High Court and the latter had asked a local court in Gurgaon to give a decision before September 20 on restraining Telenor from participating in the upcoming 2G auction.
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ET has learnt that UnitechBSE 2.40 % will challenge the district court's order in the High Court.
In February, Telenor had served a divorce notice to Unitech and sought compensation from the real estate company after the Supreme Court cancelled 122 mobile permits.Telenor holds a little over 67% in their JV which offers mobile services under the Uninor brand, while Unitech owns the rest. The Norwegian telecom major had earlier filed an indemnity claim against Unitech and has accused the latter of fraud, and the value of this claim is Rs 6,400 crore with interest.
Last month, acting on a plea by Unitech, a Gurgaon District Court said that Telenor could not partner with any other Indian company but Uninor while bidding for spectrum in the upcoming auctions.Telenor, then approached the Punjab and Haryana High Court and the latter had asked a local court in Gurgaon to give a decision before September 20 on restraining Telenor from participating in the upcoming 2G auction.
Read More . . . .