Update: Unitech has also issued a statement responding to Telenor's notice. It has said that it can not be held liable for cancellation of licenses on account of alleged defect in the Government policy, and that the cancellation can not be considered breach of warranties on the part of Unitech. It said that the company will contest the claim made by Telenor. It also added that the press statement made by Telenor informing about the indemnity claim was a violation of confidentiality covenants between the two companies and an attempt to malign Unitech's reputation, and that Unitech reserves the right to initiate action for damages caused due to this action. Earlier: Following the Supreme Court verdict on the case related to irregularities in 2G spectrum allocation, cancelling all of Uninor's licenses, its parent company, Norway's Telenor, has issued a notice to its Indian partner, Unitech, holding it liable for the breach of warranties related to the cancellation of the licenses. Telenor is now seeking compensation for all investment, guarantees and damages caused by the Supreme Court Order. Telenor has also made an indemnity claim against Unitech for the failure to obtain spectrum in the strategically critical Delhi circle. During the announcement of its quarterly results, Telenor had said that the court ruling had severely penalized the company for actions that took place before it entered India and that it was considering every option including going to court (for a review)prior to any further investments. The company had written off NOK 4.1 billion in its Indian operations during the last…
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