Unitech files caveat before Delhi HC

Unitech has filed a caveat before the Delhi High Court requesting it be heard before the court passes an order on a possible appeal by its joint venture partner Telenor.

Telenor is likely to challenge the Company Law Board's decision asking the two partners to settle their dispute over control and transfer of Uninor's assets and violation of shareholder agreement through arbitration in Singapore.

Telenor has said it will contest the CLB order. The two firms got into a bitter legal spat after the apex court's order.

Telenor sought compensation from Unitech for damages caused to its mobile venture, while Unitech moved CLB seeking approval to settle the ownership dispute through arbitration after Telenor reportedly rejected Unitech's demand that it be paid about $150 million to exit the JV and sell its 32.7% stake in Unitech Wireless to the Norwegian company.