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Govt postpones 3G auction to next fiscal

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CIOL Bureau
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NEW DELHI, INDIA: In a surprise move, the government has postponed the much-awaited auction of the 3G spectrum to the next fiscal, said a media report.

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According to  a PTI report, the auction,  which was expected to bring in Rs 35,000 crore to the exchequer, will be held only when the spectrum is available, as is the opinion of Law Minister Veerappa Moily, who is also a member of the EgoM, which looks into the issue.

As of now DoT is yet to solve the spectrum issue with the Defence.

The Department of Telecom had sought legal opinion from the Law Ministry on the schedule and guidelines for auction of 3G spectrum.

According to the Law Ministry, there are some more issues to be sorted out. As per the new clause put by DoT, if the successful bidders are not allotted spectrum within the stipulated time then they will be entitled for compensation with interests, said reports.

According to a Moneycontrol report, the auction is likely to be postponed further till December 2010. The Defence Ministry has also said that there would be no spectrum till September 2010, it quoted a CNBC-TV18 report.

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