2G scam: Unitech says Chandra's arrest won't hit business

NEW DELHI: Realty company Unitech today said the arrest of company managing director Sanjay Chandra by CBI in connection with 2G scam would not have any adverse impact on its business.

The company, however, remained silent on the demand of Telenor--its foreign partner in telecom business-- that Chandra step down as Chairman of Unitech Wireless in view of ongoing investigations into 2G spectrum scam.

"We would like to clarify that such a development in this ongoing matter will not have any adverse affect on Unitech or its real estate business as it is with respect to Unitech Wireless, which is a separate venture in the telecom business," the company spokesperson said in a statement.

Unitech is managed by a competent set of senior experienced professionals and promoters and will continue to pursue its growth plans, the statement added.

A Delhi court today rejected the Chandra's bail plea, following which he was arrested by CBI and sent to Tihar Jail in the national capital.

"Telenor Group has earlier this month sent a letter to Unitech Ltd, requesting Sanjay Chandra to step down as Chairman of the Board of Directors in Unitech Wireless," Telenor said in a statement issued earlier in the day.

Telenor Group has asked Unitech to appoint a substitute for Sanjay Chandra on board till the 2G court case is over.