The Gurgaon district court on Monday rejected real estate firm Unitech's plea seeking direction to stop Norway's Telenor from partnering with any other Indian company in the upcoming spectrum auctions. The auctions are scheduled to begin in November.
Telenor can now participate in the upcoming sale of airwaves on its own, or with a new partner. Last month the district court of Gurgaon has ruled that Telenor can bid for spectrum auction only with Uninor, its joint venture with Unitech.
Unitech last month had filed a petition and subsequently the local court had restrained Telenor from "participating, negotiating, engaging in or financially being interested in the auction processes conducted by the government/government agencies for fresh allotment of licenses/spectrum, other than through respondent no.1 (Unitech Wireless)".
Earlier this month the Company Law Board had restrained telecom operator Uninor from auctioning its assets.
Unitech which hold 32.75 per cent stake in Uninor had moved the Company Law Board, seeking stay on auctioning or any other sale or transfer of assets of Unitech Wireless, its telecom joint venture with Norwegian giant Telenor.