SC's 2G verdict under study

Cabinet's top ministers including Finance Minister Pranab Mukherjee and Telecom Minister Kapil Sibal met in New Delhi on Friday for the second time in as many weeks to discuss fallout of the court judgement."Everyone is now better informed about the judgment... we had completed analysing (the Supreme Court ruling)," he said.

The group met to discuss the future course of action, including legal options available to the government, following the apex court's 2^nd February decision of cancelling 122 licences issued to mobile phone companies in 2008.The government has 30 days from the date of the judgement to file a review petition.

Khurshid refused, however, to say what the AG had opined or if the government contemplating a review petition."You will know when a decision is taken." "The call will have to be of Telecom Ministry," he said.Khurshid said the government cannot become party to the review petition filed by private operators like Idea unless it is impleaded in the case.

Earlier in the day, Sibal had refused to comment on the deliberations at the meeting.

"If anything happens, we will let you know," Telecom Secretary R Chandrashekhar had told reporters in New Delhi on Friday.Prime Minister Manmohan Singh had on 11^th February discussed the fallouts of the Supreme Court ruling with the senior ministers.Sibal had last week stated that the government was studying the implications of the judgement as it had impact on other sectors as well."I have been saying this repeatedly that the impact of the judgement is far-reaching. It has implications not only on the (telecom) sector but on other sectors as well," Sibal had said.

The apex court, cancelling licences allocated by the then Telecom Minister A Raja, had stated that auction was the best way for allocation of scarce natural resources (like spectrum or radio waves).The court had also defined natural resources as both renewable and non-renewable.

Sibal had said that after the government studies the implications of the judgement, it would take a view on the way how it should proceed.

Friday’s meeting also assumes significance as two foreign companies -- Bahrain Telecom and Abu Dhabi-based Etisalat -- have announced their exit from India.Another operator Loop has written to the Prime Minister, asking the government to return the licence fee paid by the company along with interest.This is expected to put pressure on the government as the operators are waiting for clarity on rules to safeguard the multi-crore investments made by these players.

Another operator Telenor has, however, re-iterated its commitment to continue operations in the country, although as part of a new venture.