Govt to refund telcos

PRESS TRUST OF INDIA

New Delhi, Oct 8: An Empowered Group of Ministers today decided to refund licence fee of companies whose telecom licences stand cancelled but have no criminal charge against them.
 The EGoM, headed by Finance Minister P Chidambaram, also decided to recommend to the Cabinet a one-time fee on existing telecom operators for spectrum they hold beyond 4.4 MHz.
 The Supreme Court in February had cancelled 122 licences granted during former Telecom Minister A Raja's regime.
 Operators wishing not to pay the additional fee would be allowed to relinquish the excess spectrum beyond 4.4 MHz. The one-time fee would be imposed from the day the Cabinet takes a decision on the matter.
 Companies willing to retain excess spectrum will have the option of making staggered payments in yearly instalments, officials privy to the EGoM deliberations said. The government is likely to rake in about Rs 27,000 crore from the one-time fee, they added.
 "If there is no case or no action is going on against telecom companies for no fault on their part (in obtaining licence in 2008), then the amount (licence fee of Rs 1,658 crore) will be refunded," an official said.

Lastupdate on : Mon, 8 Oct 2012 21:30:00 Makkah time
Lastupdate on : Mon, 8 Oct 2012 18:30:00 GMT
Lastupdate on : Tue, 9 Oct 2012 00:00:00 IST




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