Supreme Court stays transfer of Aircel spectrum

Jan 08, 2017, 00:32
Supreme Court stays transfer of Aircel spectrum

The bigger worry would be for Aircel as the apex court has said that it may restrain the operator from earning any revenue from 2G services. In CBI's chargesheet filed on August 29, 2014, it was alleged that then Telecom Minister Dayanidhi Maran arm-twisted Aircel to offload its stake to Maxis.

It added: "The court made it clear that Krishnan and Marshal would not be permitted to raise any issue of financial loss that they might suffer on account of the proposed cancellation of the 2G licence and spectrum granted to Aircel in November 2006". But we will not tolerate that he uses our asset and runs away from the process of law. "If he (Krishnan) wants to use the spectrum, he must come here and face the law", a bench headed by Chief Justice JS Khehar said.

The court asked the Centre to publish its order in two leading newspapers in Malaysia for the knowledge of the accused. Mr Maran's brother Kalanithi Maran has also been chargesheeted in the case as he is also a party who has received funds from Mr. T Ananda Krishnan.

The 2G spectrum the company has in the remaining 14 circles that it was administratively granted in 2008 and 3G spectrum it acquired in 2010 auctions will not come under the purview of Supreme Court's order.

According to market analysts, RCom can technically still use Aircel's 3G spectrum and other airwaves bought through recent auctions, but it is unlikely that the merger will go through in such a piecemeal manner. Aircel and Reliance Communications declined to comment.Shortly before the court order, Aircel completed the sale of its fourth-generation (4G) network airwaves to Bharti Airtel Ltd. As a result, it will only be in Himachal Pradesh that its operations will be fully nullified.

A lower court has issued summons in the 2G case to both Maxis and its owner to appear as accused.

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