Tata Teleservices may file a review petition against licences cancellation
07 Feb 2012
Tata Teleservices Ltd (TTL), in which Japan's NTT DoCoMo owns a 26-per cent stake, may file a review petition in the Supreme Court against the court's order to cancel three of the company's telecom licenses.
On Thursday, 2 Februaury, Supreme Court ordered all 122 licences provided in 2008 should be revoked within four months and asked Telecom Regulatory Authority of India to propose rules for an auction of licences and spectrum (See: SC cancels all 2G licences, orders fresh spectrum auction).
TTL has been advised to file a review petition in the Supreme Court seeking redressal on this point, the Tata group firm, which is India's sixth-biggest mobile phone carrier by subscribers, said in a statement.
The aberrations in the policy date back to 2001 and resulted in wrongful allocations, the beneficiaries of which were not before the court, it said.
TTL had applied for these three licenses way back in June 2006, and approval was kept pending for over 18 months until the letter of intents (LoI) were finally issued in January 2008.
At the time when NTT DoCoMo invested in TTL, the company had been in operations for over 12 years with 17 licences and an annual turnover of Rs6,000 crore, it said.
