2G auctioneer likely to get only Rs 2.6 cr as fees
It was only in Bihar that final bid price reached Rs 46.43 crore per block of spectrum compared to Rs 42.51 crore fixed by the government.
There were no bids received for the airwaves frequencies in Delhi, Mumbai, Rajasthan and Karnataka. Radhakrishnan could not immediately recall the amount, if any, that will be paid to the company for the failure of auction in these circles.
On this poor response to spectrum auction, Telecom Minister Kapil said "Market dynamics should be allowed to let themselves paid out. The moment you start in a sense whether directly or indirectly dealing with the market and guiding it in a particular way, will always have lot of trouble which is bound to happen."
High base price of Rs 14,000 crore for 5 Mhz of pan-India airwaves is seen as main reason for auction failure.
The Minister has said that it was fixed as per the order of Supreme Court which cancelled 122 telecom licences.
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