Norway-based telecom major Telenor has asked Sanjay Chandra, chairman of its Indian arm Unitech Wireless and co-accused in the case involving award of second generation (2G) telecom spectrum, to step down.
“Withdrawing from the chairman position is the most appropriate and decent thing for Sanjay Chandra to do given the current circumstances,” Glenn Mandelid, director of communications for the Telenor’s Asia region, is quoted as saying on thr firm’s website.
Chandra — whose telecom joint venture uses brand name “Uninor” to market its services — was Wednesday denied bail by a special court here and sent to judicial remand for 14 days along with four other executives.
“It is of vital importance that the running business of our Indian operation is not hampered,” Mandelid said, adding: “Telenor has zero tolerance for corruption, and if the CBI trial proves any malpractice, those responsible must be brought to book.”
Mandelid, who has also purportedly sent a letter to the Indian partner, said as a responsible shareholder, Telenor believes Unitech, in the best interest of Unitech Wireless, should appoint a replacement for Sanjay Chandra as soon as possible.
Telenor had bought a 67.25 percent stake in Unitech Wireless for about Rs.6,100 crore. The company already serves close to 25 million customers since the commercial launch in December 2009.
More at : Telenor asks Sanjay Chandra to step down as Unitech Wireless chief