Enthused from the CBI verdict freeing all accused in 2G scam, Videocon Telecom will now speed up its case filed against the government in the telecom tribunal in 2015, seeking Rs 10,000 crore due to loss of business.
Videocon suffered loss of business as fallout of the Supreme Court canceling 2G licenses of the company among eight others, on the back of the CBI Court's judgement that acquitted all accused in the 2G scam case.
The case was filed just before the three year period of pleading against the SC decision, and the demand at that time was between Rs 5,500 crore and Rs 10,000 crore, taking into account financial losses, loss of business and compensation.
According to media sources, Videocon took a loss of Rs 25,000 crore to the business even when there was no fault of it, so the 2G judgement will strengthen our case to seek relief from the government.
The Supreme Court's ruled that Videocon did not benefit from the first-come first-served policy or that it was involved in any wrongdoing and hence was not penalized. It however cancelled 21 licenses belonging to the company in its judgement of February 2, 2012.
Videocon Telecom had to sell its spectrum to Bharti Airtel for Rs 4,428 crore and left the sector.
The case was filed just before the three year period of pleading against the SC decision, and the demand at that time was between Rs 5,500 crore and Rs 10,000 crore, taking into account financial losses, loss of business and compensation.
According to media sources, Videocon took a loss of Rs 25,000 crore to the business even when there was no fault of it, so the 2G judgement will strengthen our case to seek relief from the government.
The Supreme Court's ruled that Videocon did not benefit from the first-come first-served policy or that it was involved in any wrongdoing and hence was not penalized. It however cancelled 21 licenses belonging to the company in its judgement of February 2, 2012.
Videocon Telecom had to sell its spectrum to Bharti Airtel for Rs 4,428 crore and left the sector.
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