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|DoT to start 2G spectrum auction from November 12|
|BT Online Bureau|
New Delhi, Monday, August 27, 2012 | 16:19 IST
The government has said it plans to start e-auction of 2G spectrum from November 12 and laid out an information memorandum, detailing the rules and regulations for the auction and potential bidders.|
In its information memorandum, the Department of Telecom (DoT) said it will issue a notice inviting applications September 28 and the last date of submission of application will be October 19.
The Supreme Court had cancelled 122 licences on February 2 and ordered the government to redistribute the licences through an auction process.
It had set a deadline of June 2 which was later extended to August 31 on DoT's plea. The DoT had yet again sought an extension.
The final list of bidders will be announced on November 6. This will be followed by a mock auction on November 7 and 8 and thereafter the e-auction of 1800 MHz band will take place on November 12.
The start of e-auction of 800 MHz band will happen two days after close of the 1800 MHz band auction.
The payment of the successful bid amount will have to be done within 10 days days of the close of the respective e-auctions, the DoT added.
with inputs from IANS
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