New Delhi: Videocon Telecommunications is planning to file a compensation claim of over Rs 10,000 crore against the government after the CBI court acquitted all accused in the 2G spectrum allocation case, news agency PTI reported today quoting an unnamed company source.
"Videocon Telecommunications is planning to file a compensation suit against the government for at least Rs 10,000 crore. The damage is estimated to be more than Rs 10,000 crore and the company is working on final amount that is to be claimed," a source close to senior management was quoted as saying by PTI.
Following the top court judgement, Videocon participated in spectrum auction and purchased permit in 1800 MHz band, then known as 2G spectrum, across six circles - Bihar, UP (East), UP (West), Haryana, Madhya Pradesh and Gujarat in November 2012 for Rs 2,221.44 crore.
The company could not sustain the business because of rising spectrum cost in auction and later sold the entire spectrum purchased in the 2012 auction to Bharti Airtel.
"Videocon Telecommunications is planning to file a compensation suit against the government for at least Rs 10,000 crore. The damage is estimated to be more than Rs 10,000 crore and the company is working on final amount that is to be claimed," a source close to senior management was quoted as saying by PTI.
A Raja was acquitted by the CBI court in the 2G verdict (PTI)
Following the top court judgement, Videocon participated in spectrum auction and purchased permit in 1800 MHz band, then known as 2G spectrum, across six circles - Bihar, UP (East), UP (West), Haryana, Madhya Pradesh and Gujarat in November 2012 for Rs 2,221.44 crore.
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The company could not sustain the business because of rising spectrum cost in auction and later sold the entire spectrum purchased in the 2012 auction to Bharti Airtel.
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