Incident 2day
A CBI court earlier on Wednesday rejected bail applications of five business executives, including that of Unitech's managing director Sanjay Chandra, charged in a multi-billion dollar telecoms licensing scandal.
The executives will be held in jail pending the trial over the sale of telecoms licences at below-market prices.
Unitech said in a statement the "development" would not adversely affect its real estate business as it was "with respect" to telecoms business Unitech Wireless.
"Unitech is managed by a competent set of senior experienced professionals and promoters and will continue to pursue its growth plans," Unitech said in a statement.
Chandra is also the chairman of Unitech Wireless.
Earlier on Wednesday, Telenor, which holds a majority stake in Unitech Wireless, said it had requested Chandra to step down as the chairman of the mobile venture, following police charges against him in the telecoms case.
The executives will be held in jail pending the trial over the sale of telecoms licences at below-market prices.
Unitech said in a statement the "development" would not adversely affect its real estate business as it was "with respect" to telecoms business Unitech Wireless.
"Unitech is managed by a competent set of senior experienced professionals and promoters and will continue to pursue its growth plans," Unitech said in a statement.
Chandra is also the chairman of Unitech Wireless.
Earlier on Wednesday, Telenor, which holds a majority stake in Unitech Wireless, said it had requested Chandra to step down as the chairman of the mobile venture, following police charges against him in the telecoms case.
Posted in: World
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