Norwegian telco Telenor has requested Sanjay Chandra, the chairman of its Indian JV Uninor, to step down after the Central Bureau of Investigation filed a charge sheet against him amid the 2G scam.
Telenor owns Uninor with Indian real estate group…
Norwegian telco Telenor has requested Sanjay Chandra, the chairman of its Indian JV Uninor, to step down after the Central Bureau of Investigation filed a charge sheet against him amid the 2G scam.
Telenor owns Uninor with Indian real estate group Unitech, which holds 32.75% of the JV.
Glenn Mandelid, director of communications for Telenor Group region Asia, said in a statement: “Withdrawing from the chairman position is the most appropriate and decent thing for Sanjay Chandra to do given the current circumstances. It is of vital importance that the running business of our Indian operation is not hampered. As a responsible shareholder, Telenor believes that Unitech, in the best interest of Unitech Wireless [Uninor], should appoint a replacement for Sanjay Chandra as soon as possible.”
In early April, the CBI filed a charge sheet against nine people, including former telecom A. Raja, and three private companies in relation to the country’s 2008 2G scam.
Chandra, along with three executives from Reliance Anil Dhirubhai Ambani (ADA) group and a director at real estate group DB Realty, has seen his bail hearing deferred by an Indian court, which means they will remain in judicial custody for the time being, according to reports.
