Telenor asks Sanjay Chandra to step down as Unitech Wireless chief
April 20th, 2011 - 7:43 pm ICT by IANSNew Delhi, April 20 (IANS) Norway-based telecom major Telenor has asked Sanjay Chandra, chairman of its Indian arm Unitech Wireless and co-accused in the case involving award of second generation (2G) telecom spectrum, to step down.
“Withdrawing from the chairman position is the most appropriate and decent thing for Sanjay Chandra to do given the current circumstances,” Glenn Mandelid, director of communications for the Telenor’s Asia region, is quoted as saying on thr firm’s website.
Chandra — whose telecom joint venture uses brand name “Uninor” to market its services — was Wednesday denied bail by a special court here and sent to judicial remand for 14 days along with four other executives.
“It is of vital importance that the running business of our Indian operation is not hampered,” Mandelid said, adding: “Telenor has zero tolerance for corruption, and if the CBI trial proves any malpractice, those responsible must be brought to book.”
Mandelid, who has also purportedly sent a letter to the Indian partner, said as a responsible shareholder, Telenor believes Unitech, in the best interest of Unitech Wireless, should appoint a replacement for Sanjay Chandra as soon as possible.
Telenor had bought a 67.25 percent stake in Unitech Wireless for about Rs.6,100 crore. The company already serves close to 25 million customers since the commercial launch in December 2009.
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- Unitech moves company law board against Telenor - Oct 11, 2011
- Foreign telecom firms want government to clarify stand (Lead) - Feb 02, 2012
- Telenor denies quoting specific compensation amount - Mar 27, 2012
- Uninor to file interim application in Supreme Court - May 01, 2012
- Telenor plans Rs.2,000 crore investment in India - Apr 21, 2012
- Telenor's failure will hit India's image: Norwegian minister - May 12, 2012
- Contest Telenor's demand for compensation: Unitech - Feb 16, 2012
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- Foreign telecom firms want government to clarify stand - Feb 02, 2012
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Tags: asia region, best interest, brand name, cbi, chairman position, chandra, corruption, indian arm, indian partner, joint venture, judicial remand, launch, malpractice, New Delhi, percent stake, rs 6, sanjay, second generation, shareholder, thr