Norwegian firm Telenor and its Indian partner Unitech have moved the Company Law Board (CLB) separately, trading charges against each other over control of their joint venture, Uninor.
While 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.
Stating that it was sensitive to the interests of customers, employees, and other stakeholders of Uninor, Unitech 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 in a separate statement.
Unitech alleged that "Telenor is trying to rescind the shareholders' agreement and annul the Articles of Uninor only to get out of certain protective provisions for the minority shareholders including the non-compete provision."
