The 2G spectrum scam hearing at the Supreme Court has been deferred until March 11.
The 2G spectrum scam hearing at the Supreme Court has been deferred until March 11. Remember, the court had sought additional details from the government with respect to the previous round of auction. It was also expected to take a view on the further grant of extension of licenses to companies like Sistema-Shyam, Videocon and Telenor. Malvika Jain gives the details on the impact it is likely to have on the companies whose licenses have been cancelled.
According to the Supreme Court's website, this matter is now due for hearing on March 11. This effectively means that licenses have been extended, because the Supreme Court in its previous order had said that the licenses will be extended till the date of the next hearing. This date was earlier supposed to be February 4, but it is now March 11.
As far as the next round of auctions is concerned, I am not sure if it will have any particular impact on the auctions per se. However, it might benefit the companies and provide them with continuity of operations because on February 4, this matter would have been listed, then there would have been some uncertainty whether their licenses would be extended until March 11. Now, that is the date of the beginning of the auctions.
With the delay in the date of hearing, it effectively means continuity of operations has been provided to companies like Sistema Shyam, Telenor in Mumbai circle and Videocon in certain circles.