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Real estate major Unitech has filed a contempt of court case in the High Court against Uninor.The petition has been filed on alleged contempt by Uninor of an earlier order by the Company Law Board upholding the articles of association.
CLB reserves order
Meanwhile, the Company Law Board has reserved its order on Unitech’s plea seeking a stay on the auction of Uninor’s assets. The CLB will pronounce its order tomorrow. Uninor had invited potential bidders to express interest in buying its assets. Norway’s Telenor, which currently owns about 67 per cent stake in Uninor, said it was willing to pay Rs 4,190 crore for its 30 million customers and assets in case no other bidder turns up.
Telenor’s plan is to transfer the assets into a new company along with another Indian partner. On August 3, the CLB had stayed the auction process on a plea by Unitech. This order was challenged before the Delhi High Court by Uninor. The court modified the CLB order and said that the joint venture firm can receive expressions of interest from the prospective bidders till August 8.
“We also came to know about some filing only in the open court today. We do not have any further details as of now. If and when we receive any such notice, we will take the appropriate legal measures required,” Telenor Group said.
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