Unitech says no wrong done during spectrum allocation
February 3rd, 2011 - 9:35 pm ICT by IANSNew Delhi, Feb 3 (IANS) With the CBI probing the manner in which telecom licences were awarded to new entrants, one of the companies under the scanner, Unitech, Thursday said it had done nothing wrong during the licensing process. “Unitech Ltd. has not sold any shares held by it in Uninor to the Telenor Group. It is highly incorrect to allege that any favour was shown to Unitech during the licence process,” said the company in a statement.
Unitech, a real estate firm had bought telecom licence for 22 circles for Rs.1,658 crore and sold 76 percent of the equity to Telenor, a Nowegian telecom firm, for Rs.6,100 crore.
The company also said that it obtained the telecom licences through its 8 wholly-owned subsidiaries along with 8 other players after complying with the necessary formalities prescribed in the telecom guidelines at a cost determined by the government.
The company has been accused of receiving favourable treatment during the awarding of second generation (2G) spectrum licences in 2008.
Earlier former communications minister A. Raja and two of his aides were arrested by the Central Beureau of Investigation (CBI) for their suspected role in the multi-billion rupee scam over the allocation of airwaves for 2G phone services.
Raja and his allies will spend the next five days in the custody of the CBI, a special court directed Thursday.
- Unitech managing director being questioned - Feb 15, 2011
- Affected telecom firms file review pleas in Supreme Court (Lead) - Mar 02, 2012
- CBI court sends Raja, aides to 5-day custody (Third Lead) - Feb 03, 2011
- Telenor plans Rs.2,000 crore investment in India - Apr 21, 2012
- PM deflects blame in 2G scam, says Raja promised transparency (Roundup) - Feb 16, 2011
- Was told telcos sold stake to finance roll-out: PM - Feb 16, 2011
- Telenor, Unitech move Company Law Board to protect interests (Lead) - Feb 27, 2012
- Telenor asks Sanjay Chandra to step down as Unitech Wireless chief - Apr 20, 2011
- Telenor denies quoting specific compensation amount - Mar 27, 2012
- Fix reserve price at Rs.1,658 crore in 2G auction: Uninor - Feb 10, 2012
- Telenor to form new company for India operations - Feb 21, 2012
- What the 2G spectrum case is all about - May 20, 2011
- Telenor-Unitech case referred to international arbitration - Apr 12, 2012
- Unitech moves company law board against Telenor - Oct 11, 2011
- Officials told Raja to auction 2G airwaves, court told - Apr 10, 2012
Tags: 1 658, aides, allies, beureau, cbi, circles, crore, favour, formalities, New Delhi, nowegian, raja, rs 1, rs 6, rupee, second generation, spectrum allocation, spectrum licences, telecom firm, wholly owned subsidiaries