Unitech Ltd on Friday sought the Company Law Board's approval to move its dispute over the telecom joint venture with Norway's Telenor to an arbitration panel.
The move indicates complete breakdown of talks between the two sides. If the CLB agrees to the Unitech proposal then the arbitration will happen in Singapore under the shareholders agreement signed by the two companies.
Lawyers for the Norwegian company told the Company Law Board that they would oppose Unitech's petition in arguments scheduled for Monday.