Times Internet selected as auctioneer for spectrum

Gurgaon-based Times Internet Limited (TIL) Monday said it has been selected as the auctioneer to operate the spectrum auction process by the telecom department.

"This will be for the e-auction of spectrum in 1800 MHz and 800 MHz bands," the company said in a late night statement.

NCDEX Spot Exchange and Karnataka State Electronics Development Corporation were the two other firms in the race. These two firms could not qualify the technical bids.

The e-auction will entail inviting applications, resolving queries of potential bidders, finalising eligible bidders, holding public information sessions and a mock auction.

"Online auction is the most transparent method of holding large auctions. As a technology leader, we are excited to facilitate this process," said Satyan Gajwani, chief executive officer, TIL.

The empowered Group of Ministers (EGoM) is scheduled to meet Tuesday to decide on the auction timeline. It was earlier scheduled to meet Monday evening.

Though the government has been reiterating that it is making all efforts to meet the apex court's deadline of Aug 31, industry experts feel that it is likely to seek another extension.

The Supreme Court had initially given the telecom department four months to conduct the aution while cancelling the licences in February but then extended the deadline to Aug 31.