New Delhi : A high-powered ministerial panel on Wednesday allowed Norwegian telecom firm Telenor’s Indian arm to adjust Rs 1,658 crore licence fee it had paid in 2008 against the final price it has to pay for buying spectrum.

Uninor, formerly Unitech Wireless, had in 2008 paid an entry fee of Rs 1,658 crore for licence to operate in 22 telecom zones. However, all of its licences were among the 122 permits that Supreme Court cancelled last year.

Telenor participated in November 2012 spectrum auction through new entity Telewings Communications and won airwaves in six circles for Rs 4,018.28 crore.

An Empowered Group of Minister (EGoM) decided that the company will have to pay only about Rs 2,360 crore after deducting Rs 1,658 crore it had already paid in 2008, sources said.

 Companies which had bid and won spectrum in the November auction were allowed to adjust the entry fee they paid for licences that were cancelled by Supreme Court in February 2012 judgement against the final price to be paid. However, the licence fee for the firms that did not bid for spectrum in the auction will not be refunded.

(To view our epaper please click here. For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in