Corporate Aug 7, 2012
The government is looking to hold 2G spectrum auction in end December and is expected to end by 28 January and will move the Supreme Court next week to seek an extension in the timeline, CNBC-TV18 reported quoting telecom minister Kapil Sibal.
The bidders would submit the application for spectrum from 23 November, and the auction process would take approximately 40 days, beginning from 20 December 2012 and ending on 28 January 2013. Winning bidders are required to pay their dues by 8 Feb, 2013 while the frequency distribution would take place from 1 to 8 March.
The Supreme Court has given a deadline of 31 August for the government to conduct the auction. However, a delay in taking decision on the pricing of spectrum has rendered holding the auction on time impossible.
A delay in the auction could mean that the affected carriers get more time to operate. Their licences were originally ordered to be revoked in early June, but the court allowed them to operate for four more months as the auction was delayed.
The minister said the government will file an information memorandum on the auction by August end. The document will contain all details on the auction.
The new deadline has been decided in consultation with auctioneer, the TV channel quoted the minister as saying.
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