Sistema has said that it will shut down its Indian operations if the Telecom Regulatory Authority (TRAI)?s suggestion to increase the reserve price for spectrum auction by over 10 times is accepted by the government, say news reports.
Prior to this, the company was pulling out all stops to ensure it continues functioning in the sector.
It had reportedly sent a second communication to the government, requesting it to resolve the 2G issue once and for all. It stated that the government is legally bound to do so as per the conditions of the bilateral treaty signed between India and Russia.
Meanwhile, the company planned to opt for legal remedies to safeguard its interests in the country. Sistema had originally said that it will attempt to resolve the issue via conciliation.
To this end, it had sent a communication to the Ministry of External Affairs, Ministry of Finance and the Ministry of Communications and IT, stating that inter-country disputes could be solved amicably, as per the UN Commission on International Trade.
