In a fresh twist in the Unitech saga -- the government today moved the National Company Law Tribunal (NCLT) to wrest control of the debt laden realty firm and the tribunal asked the government to appoint new directors to the Unitech board.
Uninor will shut down operations in circles where it does not manage spectrum by January 2013. In an exclusive conversation with CNBC-TV18‘s Malvika Jain, Jon Fredrik Baksaas, CEO of Telenor group said he is confident that licensee fee paid by the company in 2008 is adjustable.
The Supreme Court on Monday extended the deadline for 2G spectrum auction by over 4 months to January, allowing telecom operators ample time to prepare for bidding. CNBC TV18's Siddharth Zarabi caught up with telecom secretary R Chandrashekhar to get the details of the order.
Telecom Secretary R Chandrasekhar tells CNBC-TV18 that they will wait for Supreme Court’s ruling on their review petition before proceeding with the 2G auction process.
On the fallout of the Supreme Court order on the 2G licence cancellations, Uninor, the joint venture between Telenor of Norway and Unitech has said it is not ready to give up without a fight.
Amid rising differences over the rights issue and Unitech's alleged involvement in the 2G scam, JV partner Telenor of Norway had been hinting at a walk out. But managing director of Unitech Wireless and head of Telenor Asia says he sees a strong future together
The shockwaves have been felt in the Unitech-Telenor joint venture. Telenor has asked Sanjay Chandra to step down as chairman of Unitech Wireless till the trial ends.
Experts in an exclusive interview with CNBC-TV18 analyze the implication of the verdict in to the corporate world and the market.
Telecom analyst Sanjay Chawla of Antique Stock Broking said the investigations will remain as an overhang on telecom companies.