Telenor has requested for the "exclusion" and "removal" of Unitech MD Sanjay Chandra and his two other nominees from the "management and administrative affairs of Uninor".
Norwegian firm Telenor and its Indian partner Unitech have moved fresh petitions before the Company Law Board (CLB) to remove or restrain each other's representatives from their JV, Uninor.
Telenor has requested for the "exclusion" and "removal" of Unitech MD Sanjay Chandra and his two other nominees from the "management and administrative affairs of Uninor".
It has also requested CLB to divest four group firms of real estate player Unitech from their share holding of Uninor.
Meanwhile, Unitech had requested CLB to maintain the status quo of Uninor, and not allow the transfer its assets to any other company without its consent.
Besides, it has requested CLB to injunct Telenor's "officers, servants and/or employees in any way interfering with the management" of Uninor.
The real estate firm has asked the board not to allow Telenor the "derogation of the articles of association of the company" and to conduct a special audit of the book of account of the JV firm by appointing a special auditor.
The cross petitions are scheduled to be heard by CLB on Thursday.
Telenor has requested CLB " to pass an order to remove all rights enjoyed by Unitech on account of the amendment of articles through a resolution of March 20, 2009.
Unitech, meanwhile, has also requested CLB to declare letter written by the Norwegian firm on February 21 informing plans to form a new entity in India and to migrate its existing business, including customers and employees, into the new company.
"Pass an ad interim order maintaining the status quo as on February 21, 2012 relating to the management of the affairs" of Telenor, Unitech has said.
Last week, Telenor had announced plans to dump Unitech and set up a new company for its Indian operations after the Supreme Court cancelled 122 telecom licences, including the JV's 22 permits, in the 2G spectrum allocation case.
Telenor had also sought damages from Unitech accusing it of "fraud and misrepresentation" of facts based on which it had invested over Rs 6,000 crore in Uninor.
The Norwegian firm said it will hold 74 per cent stake in the new company and may rope in a minority Indian partner.
Unitech, on the other hand, had said it "cannot be held responsible" for cancellation of licences, and shareholders agreement "cannot be terminated by any party unilaterally".
Issuing a statement, Telenor said it wants to prevent any "wrongful obstruction" of its effort to secure its investments in the country.
Unitech said its petition was to prevent the Norwegian firm from "assuming full control over the business including assets of (their mobile brand) Uninor".
"On Friday, February 24, we have moved the Company Law Board to prevent any wrongful obstruction of our effort to secure our investments and the welfare of Uninor's four crore customers, employees and partners. We are not able to comment any further since this matter is now sub-judice," Telenor Group said in a statement.
While Unitech in its statement said it "will continue to resist any mala-fide and/or unilateral action by Telenor".
"Consequently, Unitech has filed a fresh petition in CLB today to enforce its rights under the Articles of Uninor and to prevent Telenor from assuming full control over the business including assets of Uninor," the company said.
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