Shocker from Supreme Court: All 122 telecom licenses quashed

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Supreme Court
New Delhi, Feb 2: The Supreme Court has pronounced its judgement on the cancellation of the 2G licenses and has ordered that all 122 2G licenses granted to 11 telecom firms post Jan 10, 2008 have been quashed. These telecom companies will have to seek fresh recommendations. The 2G licenses will have to now be auctioned as is the norm.

The SC has ruled that TRAI must now do the needful for fresh issue of licences. A verdict that is most likely to send shock waves across the telecom sector, the ruling will sure have far fetched consequences. The verdict will majorly impact big players who have benefited during the unfair 2G spectrum allocation like Unitech Wireless, Tata, Aircel and Idea.

Among the other judgements given by the apex court, it has been reported that Etisalat, Uninor and TATA have been fined Rs 5 crore each. Loop Essar, on the other hand have been fined Rs 50 lakh.

Among the telecom firms that are most affected are - Tata Tele that has to forego 3 licenses; Swan's 13 licenses; Loop Telecom's 21 licenses; Systema Shyam's 21 licenses; Videocon's 21 licenses; Etisalat's 15 licenses and Uninor's 22 licenses.

TRAI Chairman JS Sarma has stated that available spectrum will be auctioned immediately and the spectrum reserve price will be decided next week.

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