2G: Govt should move SC for a relook at Feb judgement

A senior advocate appearing for many telecom companies in the 2G spectrum matter today suggested that government should think of moving the Supreme Court for a re-look at its judgement cancelling the 122 licenses in the wake of the results of the recent auction of radio waves.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
Real-time Stock quotes, portfolio, LIVE TV and more.
GeStepAhead SME Special
moneycontrol.com

Home » News » Current Affairs

Nov 16, 2012, 05.50 PM | Source: PTI

2G: Govt should move SC for a relook at Feb judgement

A senior advocate appearing for many telecom companies in the 2G spectrum matter today suggested that government should think of moving the Supreme Court for a re-look at its judgement cancelling the 122 licenses in the wake of the results of the recent auction of radio waves.

Like this story, share it with millions of investors on M3

2G: Govt should move SC for a relook at Feb judgement

A senior advocate appearing for many telecom companies in the 2G spectrum matter today suggested that government should think of moving the Supreme Court for a re-look at its judgement cancelling the 122 licenses in the wake of the results of the recent auction of radio waves.

Post Your Comments

Share Cancel

A senior advocate appearing for many telecom companies in the 2G spectrum matter today suggested that government should think of moving the  Supreme Court for a re-look at its judgement cancelling the 122 licenses in the wake of the results of the recent auction of radio waves. He said the result showed that the CAG assessment of presumptive loss of Rs 1.76 lakh crore was "entirely baseless".

"In my view the government should ask the Supreme Court to have a re-look at the judgement and may be restore the 122 licenses," senior advocate Mukul Rohatgi said. He said the February 2 judgement of the apex court, holding that auction was the only way forward and resultant cancellation of 122 licenses, was flawed. He said the end result of the verdict was to refund Rs 1,650 crore to each of those whose licenses was cancelled which will amount to about Rs 20,000 crore but the auction has only fetched a fraction of it and that has to be paid in a staggered manner.

Also Read; Lower reserve price positive for telcos: Emkay

"So the end result is government has suffered, licensees have suffered, the foreign joint ventures have suffered, the FDI climate has suffered, the consumer has not been benefited and finally the telecom sector has not progressed at all," Rohatgi, who is appearing for various telecom companies in courts, said. He said the alienation of natural resources like spectrum was a policy matter and is best left to the government, especially if the object is for every citizen to have a phone at nominal cost. Rohatgi said obviously auction cannot be the way forward as stated by the five-judge bench of the apex court.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
2G: Govt should move SC for a relook at Feb judgement

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login