Real estate firm Unitech moved a district court in Gurgaon seeking an injunction against Norwegian firm Telenor transferring business of their telecom joint venture (JV), Uninor.
Unitech, which holds 32.75% stake in Uninor, in the petition used Section 9 of the Arbitration Act to restrain Telenor 'violating its rights as enshrined in the Shareholders Agreement (SHA)'.
Telenor holds 67.25% stake in Uninor, whose 22 telecom licences were among the 122 cancelled by the Supreme Court.
The petition is to restrain Telenor from entering into a JV with any other partner in India by invoking non-compete clause in the SHA.
....more info
Unitech, which holds 32.75% stake in Uninor, in the petition used Section 9 of the Arbitration Act to restrain Telenor 'violating its rights as enshrined in the Shareholders Agreement (SHA)'.
Telenor holds 67.25% stake in Uninor, whose 22 telecom licences were among the 122 cancelled by the Supreme Court.
The petition is to restrain Telenor from entering into a JV with any other partner in India by invoking non-compete clause in the SHA.
....more info