'2G spectrum auction on Monday'

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The government will begin tomorrow the auction for telecom spectrum through which it is hoping to meet Rs 40,000 crore revenue target. (Reuters) The government will begin tomorrow the auction for telecom spectrum through which it is hoping to meet Rs 40,000 crore revenue target. (Reuters)
SummaryThe govt is hoping to meet Rs 40,000 crore revenue target through auction for telecom spectrum.

for the hearing of its curative petition before Supreme Court.

In the petition, the company has requested for reinstatement of licences as it has argued that it was allocated spectrum for which there was no demand.

The company, which did not participate in auction, maintains that it will continue its operations in India.

"Absolutely we will continue. We are putting all focus and hopes towards the legal route and we hope the Supreme Court to consider our curative petition," SSTL President and CEO Vsevolod Rozanov said.

Mathews of COAI said the industry body had been saying that given the reserve price, the quantum of spectrum that is being put up and the overall structure, it is not going to be a very successful auction.

"We don't expect the auction to meet any of the objectives that the government has set, so overall if you use that as the criteria, clearly it's not a very successful auction," he said.

At the end of the auction, companies will have the option to pay either full amount of 33 per cent of final price by December 25.

The final auction price will then determine the amount that government will get from one-time levy on spectrum held by existing operators beyond 4.4 Mhz.

The government expects to garner Rs 31,000 crore from this one-time levy throughout the validity period of existing licences. The major portion of the estimates include price calculation based on reserve price.

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