The Ministry of Commerce is of the view that the telecom operators like Telenor and Sistema Shyam TeleServices Limited (SSTL) should be allowed to buy back the spectrum by paying the market-discovered auction price.
Consequently, it has suggested that the Department of Telecommunications (DoT) should examine the option of allowing Telenor and SSTL to acquire their cancelled licences by matching the auction price instead of bidding for spectrum in upcoming auction.
The Ministry believes the move will reflect India?s strong commitment towards protecting investors? rights and will play an important role in removing the perception of negativity surrounding the telecom industry.
The National Manufacturing Competitive Council (NMCC) has also written to DoT on similar lines, requesting it to allow foreign operators? to buy back the spectrum by matching the market-discovered auction price.
In its letter to DoT, NMCC has stated that the Supreme Court cancelled the 2G licences of these players on account of certain anomalies in the licence issuance process. However, one must consider that such anomalies occurred before these foreign players made investments in Indian companies. Therefore they should be given an opportunity to by buy back their spectrum and continue their business in the country.
