Following a fierce legal battle between Telenor and Unitech, the two Joint Venture partners of Uninor, Unitech has finally decided to exit the telecom operator JV selling its 32.75% stake to a new Indian entity set-up by Telenor, reports The Economic Times. According to the report, Unitech has issued a statement announcing a settlement with Telenor, wherein all disputes have been amicably settled by the two companies and Unitech has agreed to dispose of its shareholding for a nominal amount and withdraw its nominees from the Unitech board. Earlier, Telenor had decided to auction Uninor's mobile services business and ancillary operations in various circles, but the Company Law Board had stopped Uninor from the auction, as Unitech had approached the board appealing against the auction notice. However, Uninor had said that it would move to a higher court. With Unitech exiting from the JV and settling all disputes Telenor will now be able to participate in the upcoming 2G auctions with a new partner. Telenor and Unitech conflict timeline - Uninor proposes a rights issue of Rs 6,500 crore, which is challenged by its JV partner Unitech in the District Court of Gurgaon. The court puts a stay order. - Unitech, on 11 October 2011, initiates a process before the special judicial body Company Law Board (CLB) by filing a petition against Uninor, the Telenor-appointed directors on the Uninor board, Telenor Asia Pte Ltd. and Telenor ASA, alleging that the respondents have oppressed the minority shareholders and mismanaged the business of Uninor. - Supreme Court of…
- Indian crypto exchanges plan to collect identity details for crypto transfers to private wallets: Report June 3, 2023
- Jugalbandi, A Chatbot for Rural India by Microsoft and EkStep: What to Know and Think About? June 3, 2023
- Hopeful to See Action Against E-Pharmacies Selling Medicines Online Without Licenses: Pharmacy Body Writes to States and UTs June 3, 2023
- Meta to give advertisers more control using AI and content filters June 2, 2023
- Transparency Report: Here’s all Facebook, Instagram, Twitter and Google had to say about user complaints in April June 2, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Is it safe to consider all "publicly available data" as public?
PhonePe launched an e-commerce buyer app for ONDC called Pincode. We, however, believe that it should also launch a seller app.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...