Lone bidder Sistema Shyam Teleservices (SSTL) bid for eight circles in the 2G spectrum auction for CDMA services. The Indian arm of Russian conglomerate won airwaves in eight circles for Rs 3,639 crore, but will not pay a single rupee for these frequencies till March 2018.
As per the auction rules, Sistema is required to pay only a fourth (25percent) of the bid amount upfront, with the remainder to be paid in 10 equal installments with interest, beginning from the fourth year of their licence period. Sistema has to pay about Rs 910 crore within ten days, but this can be adjusted against the Rs 1626 crore it paid in 2008. The first two installments of Rs 273 crore each (with interest) that has to be paid in 2016 and 2017 can also be adjusted. So, its first payment for airwaves it secured in the current auctions will only have to be made in March 2018.
Source: http://cablequest.org/news/broadband-and-iptv-news/item/1854-sistema-bids-for-8-circles,-won%E2%80%99t-pay-for-airwaves-till-march-2018.htmlSource: http://cablequest.org/news/broadband-and-iptv-news/item/1854-sistema-bids-for-8-circles,-won%E2%80%99t-pay-for-airwaves-till-march-2018.html
Source: http://cablequest.org/news/broadband-and-iptv-news/item/1854-sistema-bids-for-8-circles,-won%E2%80%99t-pay-for-airwaves-till-march-2018.htmlSource: http://cablequest.org/news/broadband-and-iptv-news/item/1854-sistema-bids-for-8-circles,-won%E2%80%99t-pay-for-airwaves-till-march-2018.html
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