2G auctioneer likely to get only Rs 2.6 cr as fees
Global investing banking giant NM Rothschild and its partner DotEcon got Rs 30.5 crore for conducting 3G and wireless broadband spectrum auction in 2010. The auctions had garnered over Rs 1 lakh crore.
On the other hand, the 2G auction fetched the government only Rs 9,407.64 crore.
"We were to get Rs 5 crore fixed component for both (1800 Mhz -GSM and 800 Mhz -CDMA) the auctions. The 800 Mhz band auction has failed. Therefore, we will get only Rs 2.5 crore as fix component from auction of 1800 Mhz and Rs 10 lakh drop dead fee due to failure of 800 Mhz," E-Procurement Technologies' Vice President Suraj Radhakrishnan said.
He said the company did not quote any amount as variable fees which is a percentage of money that the auctioneer is supposed to get on the difference between the auction- discovered price and the reserve price.
"In any case it would have not benefitted us. We wanted to conduct this auction for experience. We were doing it for first time and got tremendous support from DoT and Inter- Ministerial Committee which enabled us to do it in a very short duration," he said.
Out of 22 telecom circles in the country, bids were received for 18 circles only in the recently concluded 2G auction. Participating companies won
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