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SC allows finalisation of telecom spectrum bids
The Supreme Court on Thursday allowed the government to finalise the
auction of telecom spectrum and announce the winners, but with a caveat.
The finalisation of the results will be subject to the outcome of the cases being heard by the apex court.
The
telecom auction concluded on Wednesday after 19 days, with a total bid
commitment of nearly Rs.110,000 crores from the eight players in the
fray.
Recording submissions by Attorney General Mukul Rohatgi and
the rival counsel including P. Chidambaram appearing for mobile
operators, the apex court bench of Justice Dipak Misra and Justice
Prafulla C. Pant in their order said: "We are inclined to modify our
order and allow the Union of India to finalise auction and proceed
further."
All the successful bidders shall be intimated that the
auction will be finalised subject to the outcome of the hearing of
matter by the court, the court said in its order.
As the court
appeared to relax its earlier order of February 26 restraining the
government from finalising the bids, Chidambaram told the court that it
was like pushing the envelope, inch by inch, towards their goal.
At the outset of the hearing, Rohatgi told the court that the auction was a tremendous success.
Seeking
the modification of the February 26 order, Rohatgi told the court that
the government could then persuade the successful bidders to make the
initial payment which is Rs.28,000 crores and has already been factored
into the budget.