Telecom EGoM fails to take decision on auction reserve price
Telecom minister Kapil Sibal, in fact, said the government would approach the SC to seek an extension of the deadline. FE had earlier reported that the department of telecommunications (DoT) had moved an internal note to this effect.
The next meeting of the EGoM is expected to take place on either July 16 or 17.
However, the panel was able to approve the proposal to allow operators to mortgage spectrum assigned to them to raise funds. Earlier, the RBI and the department of financial services had approved mortgaging of spectrum on the condition that in case of a default the bank should have the unfettered right to sell, transfer, assign, exchange or otherwise dispose of the spectrum free of any restraining conditions. The EGoM, while accepting this, added that the auction of the spectrum in such cases should be done under the guidance and supervision of the DoT.
Another highlight of the meeting was the presentation of Trai chairman Rahul Khullar on the impact of
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