Unitech and Telenor to establish two committees to manage Uninor’s activitiesthe

Unitech and Telenor have agreed to establish two committees to manage the expenses and projects undertaken by Uninor.

The two committees will be headed by Unitech?s nominees. This decision was passed at Uninor’s Board meeting.

Prior to this, Unitech had approached the Company Law Board alleging that Uninor was being mismanaged. It is believed that Telenor was managing all of the company?s key functions with little or no assistance from Unitech.

Further, it is believed that the proposal to form such committees was already a part of the shareholders’ agreement signed by the two partners when Telenor picked stake in Uninor. However, differences have already arisen between the two companies with regard to the committees? mandate.