The Supreme Court on Thursday allowed the Union government to finalise the results of the telecom spectrum auction, which ended on Wednesday, fetching the exchequer a huge revenue of Rs. 1.09 lakh crore.
The order means the government can now collect initial payments of over Rs. 28,000 crore from successful bidders , helping to narrow the fiscal deficit.
The final allocation of spectrum, however, will be subject to the court’s verdict as the auction criteria and guidelines have been challenged by some telecom companies.
A Bench of Justices Dipak Misra and P.K. Pant said on Thursday that it was willing to modify its order that the result of the auction should not be finalised without its permission.
