Telenor asks Uninor chairman Chandra to step down

News Wireless India 20 APR 2011
Telenor asks Uninor chairman Chandra to step down
Telenor earlier this month sent a letter to Unitech requesting Sanjay Chandra to step down as chairman of the board of directors at their joint venture Unitech Wireless. The announcement comes after Chandra and eight others, including former telecom minister A. Raja, former telecom secretary Siddharth Behura and representatives of other telecom companies, were on 2 April indicted in the 2G spectrum allocation scam by India's Central Bureau of Investigation (CBI). At the same time, Telenor asked Unitech to appoint a substitute for Chandra for as long as the 2G court case is ongoing in India. The Central Bureau of Investigation (CBI) charge sheet names the managing director of Unitech, Sanjay Chandra, and also names Unitech Wireless for actions when it was a wholly-owned Unitech company, prior to Telenor entering India. Telenor has invested INR 61 billion in Unitech Wireless and holds a 67.25 percent ownership share. The company already serves close to 25 million customers since the commercial launch in December 2009.

Categories:

Mobile

Companies:

Telenor,  Unitech Wireless,  Unitech

Countries:

India

Tags:

Legislation - Lawsuits, Officers & directors

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