India’s Income Tax department has frozen the shares owned by Unitech in its joint venture Uninor, reports the Economic Times. The tax office froze shares held through Simpson Wireless, Cestos Wireless and Acrous Wireless, Unitech’s investment vehicles through which it holds a 32.75% stake in Uninor due to alleged outstanding tax dues amounting to INR7.01 billion (USD134.31 million)
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OVETEL Unitech shares frozen; Telenor presses for compensation
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