Industrialist Kumar Mangalam Birla said today that cancellation of 2G licences was totally unexpected.
Birla said Idea, the group firm, had applied in 2006, and was allotted 2G licences clubbed together with other telecom players in 2008.
In a landmark ruling, the Supreme Court this month cancelled 122 2G licences, finding the telecom spectrum allocation policy under former Union Minister A Raja as unacceptable.
"This has come as a complete bolt from the blue – our licences being cancelled," he said, talking to reporters at NASSCOM's India Leadership Forum here. "Our case is very different on merit...Like everyone else, we are looking at what we can do to unwind the situation from here. So the issue in our situation is very different and it is unfortunate that we have been clubbed together with others who were given licences in 2008," he said.
"I think we need to wait and see what the government comes out with, if there is a re-auction. If so at what price, what would happen to existing infrastructure....So it is a little early to comment on whether we will participate or not."
"Like other hurdles in the past in the sector, I am sure we will be able to find a way through this too," he added.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
