Thursday, 21 February 2013

Sistema asks for temporary license till auction process is completed

Sistema Shyam Teleservices who had lost 2G spectrum licenses last year following the Supreme Court’s February 2, 2012 verdict has sought a temporary license from the government till the next round of auction takes place.
In a letter to the Department of telecommunications (DoT) Sistema said that in the event of any negative order from the apex court, it would request the latter to issue  temporary licences till such time the auction process is completed and spectrum along with new licences are issued to the company.
Last Friday the Supreme Court directed that the telcos whose 2G licenses were cancelled following its February 2, 2012 verdict and failed to win spectrum in the auction will have to stop operations forthwith. This also applies to those who did not participate in the auction.
The apex court  had rejected the curative petitions of four telcos- Sistema Shyam Teleservices Ltd (SSTL), Videocon Telecommunications Ltd, Tata Teleservices Ltd (TTSL) and Idea Cellular Ltd and the former telecom minister A Raja in 2G case.
Earlier in April 2012 the review petitions of Videocon Telecommunications Ltd, S Tel Ltd, SSTL, TTSL, Unitech Wireless (Tamil Nadu) Pvt Ltd, Etisalat DB Telecom Pvt Ltd and Idea Cellular Ltd were rejected.
Reacting to the dismissal of its plea SSTL said that it is unfortunate that SC has not admitted its curative petition.

Sandip Ginodia
We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit / call : 09830271248 .

For more info and regular updates about unlisted shares and the stock market :
Follow our blog : .
Like us on facebook : 

No comments:

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.