Norwegian state owned telco Telenor, whose India joint venture Uninor is set to lose 22 licences following the Supreme Court’s February 2 verdict cancelling all the 122 spectrum licences has claimed damages of nearly USD 14 billion from government of India, Reports The Times of India..

According to the newspaper, Telenor has sought a solution from the government within six months or goes for international arbitration for failure to protect its investment in the country.

According to Reuters Telenor had informed the Indian government of its "intent to invoke" the provisions of the so-called comprehensive economic cooperation agreement (CECA).

"We are hopeful that it remains the government''s intent to protect and encourage bonafide foreign investment in the country," TOI quoted a spokesman as saying.

 The newspaper report cited Telenor as saying in the notice, which was also sent to the telecoms department and the corporate affairs ministry, it invested in India based on licences issued by the government and it had complied with the procedures.

"Despite having no role to play either in the policy or in the process through which these licences were awarded, Telenor stands to lose its entire investment made in India," the newspaper quoted the notice as saying.