2G: TRAI forfeits entry fee paid by licencees
As per TRAI's recommendation on exit policy, Rs 1, 650 odd crore paid by telecom players stands forfeited and will not be returned in any case.
April 23, 2012 / 15:09 IST
The telecom regulator Telecom Regulatory Authority of India (TRAI) today submitted recommendations regarding the 2G spectrum auction. It has set the 2G spectrum auction reserve price at 1.08 times of the 3G reserve price, which is at Rs 3,500 crore.
Meanwhile, a few days back Telecom Regulatory Authority of India (TRAI) had sent a recommendation on exit policy, which stated that there was no need for separate exit policy for all types of licences and the entry fee paid by the licencees will continue to be non-refundable as per their licence terms and conditions. Loop Telecom, promoted by the Essar Group had written to the Prime Minister and sought a refund of Rs 16,050 crore plus. But now, the amount paid by telecom players like Loop and others stands forfeited and will not be returned in any case. The Department of Telecommunications had asked Telecom Regulatory Authority of India in October last year to recommend an exit policy for licencees who wish to exit telecom services under a licence.The apex court had quashed 122 licences given in 2008 under the then telecom minister A Raja terming them illegal. As per the judgement, the licences stand cancelled from June 2.(With inputs from PTI) Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
