Supreme Court extends 2G auction deadline to January 11
Posted on: 27 Aug 2012
The Supreme Court on Monday extended the deadline for the auction of 2G spectrum to January 11, 2013.
The court, however, warned that if the process is not completed by the deadline, it may initiate contempt proceedings against the officer concerned and impose a steep penalty.
The Union government had earlier this month moved the top court to extend the timeline for the auction of the spectrum. In response, the court last week said that it would consider extending the deadline only when it receives an undertaking from the telecom secretary that its judgement will be implemented.
In an application filed by the Telecom Ministry, the government said it needed time until November 12 to start the auction and another 40 days to complete the procedure and allocate licences and spectrum.
In a related development today, the Department of Telecommunications issued a memorandum on the auction of second-generation spectrum, with Delhi being the most expensive at a reserve price of Rs 693.06 crore per 1.25 MHz.
The price for Mumbai is the second highest at Rs 678.45 crore. Jammu & Kashmir is the cheapest at Rs 6.33 crore.
DoT also fixed the earnest money, a deposit a buyer makes to the seller to show its faith in a transaction, for pan-India bidding at Rs 442 crore.
In February this year, the apex court had cancelled 122 2G licences, saying they were given away at throwaway prices to corporates, and set an August 31 deadline.