New Delhi: Telcom company Uninor today said it will move a higher court against the Company Law Board (CLB) order that stopped it from auctioning its assets.
Since the CLB order has now been pronounced, we are able to comprehensively move our arguments towards Uninor's assets auctions to higher courts, Uninor said in a statement
New Delhi: Indian telecom operator Uninor today reported narrowing of its operating loss at about Rs 435.6 crore (Norwegian Krone 444 million) for the fourth quarter ended 31 December 2012.
The company had reported operating loss of Rs 4,883.5 crore (NOK 4,978 million) for the same period a year ago.
The findings are a testimony to the fact that Uninor is gaining momentum in India even with a limited number of circles they are present in. With break-even expected in other circles this year, the India picture is quite encouraging for the company, Uninor said in a statement
The Company Law Board on Thursday stopped telecom operator Uninor from auctioning its assets.
I allow the application and injunct the respondent (Uninor) from taking any steps whatsoever in pursuance to the auction notice published on August 1 or similar notices that may have been published, CLB Chairman Justice D R Deshmukh said in his order.
Uninor is a joint venture telecom company between Norway's Telenor and realty major Unitech.
New Delhi: The country's GSM mobile subscriber base fell by 1.97 million in February to 655.59 million, dragged down by Uninor that lost over 8 million users, data released by industry body COAI shows.
The subscriber count stood at 657.56 million at the end of January 2013. Uninor lost 8.34 million subscribers during February and its user base now stands at 31.77 million. Uninor has closed down its operations in various circles, including Mumbai, and the company now provides services in six circles.
Realty firm Unitech has shot off a letter to FIPB objecting to its telecom partner Uninor's proposal to raise Rs 1,200 crore through a rights issue, saying it had never agreed to the move as was being claimed by Uninor.
Unitech Wireless - the joint venture of Unitech and Norway's Telenor which operate under Uninor brand, had applied to Foreign Investment Promotion Board (FIPB) for permission to raise funds to meet operational and capital expenditure.
Telecom operator Uninor today said it will shut operations in two circles of Kolkata and West Bengal as the company is unlikely to get spectrum there.
Uninor, in which Norwegian telecom major Telenor holds a majority stake, was among the operators whose licences were cancelled by the Supreme Court in February. Its licences are valid till January 18, 2013.
The company will issue a public notice to all its customers in Kolkata and West Bengal requesting them to exhaust their balance by January 18, 2013, and utilise mobile number portability to port out to any other operator of choice, Uninor said in a statement.
