Cancellation of 2G licences was a "bolt from the blue": Birla
Noting that cancellation of 122 2G licences by the Supreme Court came as a "complete bolt from the blue", Adity Birla Group Chairman Kumaramangalam Birla Tuesday said it is a little early to comment on whether group firm Idea will participate in the auction or not.
"This has come as a complete bolt from the blue - Our licenses being cancelled," he said, talking to reporters at NASSCOM's India Leadership Forum here.
Birla said Idea, the group firm, had applied in 2006, and was allotted 2G licenses clubbed together with other telecom players in 2008.
"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.
In a jolt to the telecom sector, the Supreme Court on February 2 cancelled 122 2G licences granted during the tenure of former telecom minister A Raja declaring them as "illegal"
"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.