Realty firm Unitech, on Friday, moved a fresh petition before the Company Law Board, seeking arbitration in its dispute with Norwegian telecom firm Telenor over control of joint venture Uninor — a development indicating that the negotiations between the two partners did not make any headway.
Hearing on Monday
Unitech has moved a petition to the CLB under Section 45 of the ‘Arbitration and Concillation Act', seeking arbitration on the ongoing dispute with Telenor, which holds about 67 per cent stake in Uninor, sources said.
The matter had been listed for next hearing on Monday.
Uninor is among the telecom players whose licences were cancelled by the Supreme Court and Telenor blamed the Indian partner stating Unitech for breach of agreement. The matter went to the CLB.
On March 19, Unitech and Telenor had exchanged proposals on probable sale or purchase of shares in joint venture Uninor.
