Unitech defends its right to seek arbitration

Realty company Unitech on Thursday told the Company Law Board its dispute with Norwegian firm Telenor over their joint venture Uninor was fit case for arbitration. Unitech counsels during argument told CLB that Telenor, which holds majority stake in Uninor, had invoked arbitration under Share Subscription Agreement to seek damages and indemnity, but was rescinding Share Holders Agreement.