01-11-2011, 08:17 PM
Interestingly, when companies like S Tel Ltd were ready to offer more price for spectrum, the Department of Telecom completely ignored it. In its letter to Prime Minister Manmohan Singh, S Tel had volunteered to pay an additional revenue share of Rs. 6,000 crore and later enhanced its offer to Rs.13,752 crore in its letter to Mr. Raja. It even agreed to increase the bid price in the event of any counter bid. http://hindu.com/2011/01/11/stories/2011...581600.htm
As per calculations based on S Tel's offer, the government exchequer would have got Rs. 65,909 crore as against Rs. 12,386 crore collected by DoT. ââ¬ÅThis indicated that had an open process of bidding/auction been used for price discovery and hasty and abrupt changes in the deadlines date not been made, it could have been possible for the government to have received at least this amount,ââ¬Â the CAG said in its report.
As per calculations based on S Tel's offer, the government exchequer would have got Rs. 65,909 crore as against Rs. 12,386 crore collected by DoT. ââ¬ÅThis indicated that had an open process of bidding/auction been used for price discovery and hasty and abrupt changes in the deadlines date not been made, it could have been possible for the government to have received at least this amount,ââ¬Â the CAG said in its report.