source : wall street journal , by jai krishna and mukesh jagota
Dot declared to issue notice within a week to 85 telecom firms(they got licence without meeting the eligibility criteria or not rolling out services as per time lines).the licence holders will be given 60 days time to respond and further actions would be taken based on their replies.telecom minister kapil sibal said.
CAG claimed in its report that 85/122 firms got licence despite not having required capital.this decision affecting those foreign investers who invested multi billions in local companies having licence.kapil sibal said "they should have looked before all regulations and compliances whether companies are meeting or not.now govt. can't do anything .
comment : according to me , govt. should have checked in 2008 itself when licences were being alloted to these companies .now it's too late and can cause multi billion loss even for the indian economy.apart form that , creating bad image of india at internation platform.
BY REENA TOKAS
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