Top

Supreme Court agrees to hear banks consortium in Aircel case

The apex court had earlier taken a tough stand and restrained transfer of 2G licences from Malaysia's Maxis.

New Delhi: The Supreme Court on Tuesday agreed to hear on February 3 the plea of consortium of banks led by State Bank of India that it should be heard in the Aircel-Maxis 2G spectrum case as it has got over Rs 20,000 crore financial exposure in the firm concerned.

A bench headed by Chief Justice J S Khehar said that it would hear the plea on the date fixed in the case when Attorney General Mukul Rohatgi, appearing for banks, sought urgent hearing on the ground that the PSU financial institutions had lent money to Aircel. He said the banks, having substantial exposure in the telecom company would be an affected party if the court were to pass an order on cancelling 2G spectrum licence awarded to Aircel.

The apex court had earlier taken a tough stand and restrained transfer of 2G licences from Malaysia’s Maxis, which was originally allotted to Aircel to Reliance or Airtel.

( Source : Deccan Chronicle. )
Next Story