NEW DELHI: Ajay Chandra, brother of Unitech Ltd MD Sanjay Chandra who is himself an MD with the firm, on Monday told a special CBI court that Unitech had not sold a "single share" to Norwegian firm Telenor after the foreign company invested in it. Sanjay is facing trial in the 2G scam case.
Deposing as a CBI witness in the 2G scam case, Ajay said that after getting 2G licences in 2008, eight subsidiaries of Unitech Ltd came together and Telenor Asia (P) Limited was made an investor. "It is correct that Unitech did not sell a single share held by it to Telenor Asia (P) Limited. Equity was given to Telenor Asia (P) Limited by way of fresh issuance of shares," he said.
CBI had alleged that Unitech Wireless (Tamil Nadu) Pvt Ltd had off-loaded 60% of its shares to Telenor for Rs 6,200 crore iafter getting 2G licences and had earned windfall profit. The agency alleged that eight group companies were renamed after getting unified access services (UAS) licences from the DoT and they later merged into Unitech Wireless (Tamil Nadu) Pvt Ltd. Ajay told the court that equity of Telenor Asia (P) Limited was 67.25%, while that of Unitech, through its affiliates, was 32.75%.
Unitech MD: Not sold our stock to Telenor
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Unitech MD: Not sold our stock to Telenor
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Unitech MD: Not sold our stock to Telenor
