Times Internet to conduct spectrum auction process

PTI Updated - August 06, 2012 at 06:51 PM.

The Department of Telecommunications has selected Gurgaon-based Times Internet Ltd (TIL) as auctioneer to operate spectrum auction process.

Sources in the DoT privy to the development confirmed the information.

TIL was among three firms that competed for the job of auctioneer but it was the only firm that qualified for financial bids round after qualifying technical bids.

The Mumbai-based NCDEX Spot Exchange and the Bangalore-based Karnataka State Electronics Development Corporation were other firms that were in the race for auctioneer and were also declared eligible for technical bids.

However, these two firms could not qualify technical bids.

The Empowered Group of Ministers, headed by P Chidambaram, will today discuss schedule which DoT will prepare in consultation with TIL.

The next step for DoT will be to issue Information Memorandum (IM) which is final document that will carry complete details on auction of spectrum.

As per the last schedule, DoT had plans to issue IM on August 27, just four days before August 31 deadline set by the Supreme Court to complete the process.

The government will thus have only four days to complete 13 processes before actual bidding for airwaves starts, assuming that August 31 remains the final date.

The steps include responding to queries of potential bidders, inviting applications and giving time to companies for submissions, finalising eligible bidders, public information sessions and mock auction.

In a schedule proposed earlier, which was rejected by the Supreme Court, the government had sought to issue the IM by August 30. It had also indicated that it will require over 100 days after IM, before actual bidding starts.

This auction is important for companies like Sistema Shyam Teleservices, Uninor and Videocon whose licences were cancelled by the apex court but they are willing to continue their businesses by acquiring spectrum through auction.

Permits of these companies for telecom services is valid till September 7 only as per the Supreme Court order.

Published on August 6, 2012 13:21