Telecom companies with cancelled licenses to shut operations on June 2?

Telecom companies with cancelled licenses to shut operations on June 2?

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Asia Bizz: After the Indian Supreme Court cancelled the licenses of some mobile phone companies, certain reports allege that telecom companies might have to suspend their operations in the Asian nation from June 2, 2012. The operations might be shut down as the government might not approach the court to seek an extension of the deadline of four months.

In an order passed on February 2, 2012, the Supreme Court cancelled the licenses of about 122 mobile permits allotted in the year 2008. The court had also directed the government to issue fresh licenses through auctions within the time of four months.

In its clarification petition, the Indian government said that it will require at least a minimum of 400 days to conduct the auctions and added that the process would be complete by the month of March 2013. R Chandrasekhar, the Telecom secretary confirmed the operations of the companies of which the licenses have been quashed and stated that they have to stop on June 2, 2012, unless the court grants an extension.

But surprisingly, the Apex Court last week refused to reconsider its order to cancel 122 telecom permits which were issued by the telecom minister A Raja. Meanwhile seven companies have filed for a review petition before the court.