Unitech moves to a Gurgaon court against Telenor

Unitech, the well known real estate firm moves to the Gurgaon Company court against Norway’s Telenor to preclude it from creating a new telecom joint venture in India. The company in a statement issued on Wednesday also stated that it has sought to prevent Telenor from using the assets of their joint venture for the purpose of the new venture.

The real estate company has files a company petition at the Gurgaon district court under the Arbitration and Conciliation Act. The plaintiffs alleged that they had a non- compete clause in the shareholder agreement to restrain Telenor from entering into any sort of direct competition with them. The statement issues by Unitech Ltd clearly stated that they have moved an arbitration application under section 9 of the said act restraining Telenor from participating in any manner or being financially interested in any other project that competes with the business of Uninor adding further that Unitech has also sought an injunction against the transfer of business of Uninor by Telenor to a new entity altogether. The objective behind this move was to protect the interest of Unitech’s investment in the telecom industry. The district court is yet to set a date for the hearing of the petition.