A consortium of banks led by the State Bank of India (SBI) today moved the Supreme Court seeking to be heard before the court decides to cancel Aircel’s use of the 2G licences it had acquired in 2006.
Appearing on behalf of 12 banks, Attorney General Mukul Rohatgi sought urgent hearing on the ground that the PSU financial institutions had lent money to Aircel.
“Aircel owes the banks around Rs 20,000 crore. Any order on 2G airwaves could have an impact on the creditors,” Rohatgi told the court.
A bench headed by Chief Justice JS Khehar agreed to hear the AG’s request and said that it will hear the plea on the date fixed in the case, i.e., February 3.
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 any other telecom firms.
It had said that the Malaysian businessman T Ananda Krishnan, the owner of Maxis Group, and Ralph Marshall, an officer of the company, will have to appear before it on February 3, failing which 2G licences granted to Aircel shall be seized.
Rohatgi told the bench, also comprising Justices NV Ramana and DY Chandrachud, that the banks, having substantial exposure in the telecom company will be an affected party.
Earlier on January 6, the apex court had restrained transfer of 2G licences from Malaysia's Maxis to any other firm after taking serious note of the fact that the officials of the foreign company have been avoiding judicial process here.
The bench had proposed to restrain earning of any revenue by using the 2G spectrum licences which were originally granted to Aircel in 2006.
It had also asked the Telecom Ministry to devise ways and means to avoid adverse consequences following the order to Aircel subscribers by provisionally transferring 2G licences to others service providers.
"We cannot tolerate a person using the national resource such as spectrum of India and not honouring court notice," the bench had said, adding that Ananda Krishnan cannot evade law.
Maxis had acquired the 74 per cent stake in 2006 from Aircel owner C Sivasankaran. The CBI has alleged that Sivasankaran sold the stake under pressure from then Telecom minister Dayanidhi Maran, who stalled approvals it needed, and that Maxis, in return, invested in his brother Kalanithi Maran’s Sun Direct, the direct-to-home TV arm of his Sun TV Network Ltd.
