Videocon says its operations running in full swing as of now

NEW DELHI: Mobile operator Videocon, whose telecom licences stand cancelled by the Supreme Court, today said that it has neither closed its operations nor decided on it.

"Our operations are running in full swing. As on date we have taken no such decision," Videocon spokesperson told PTI.

Videocon denied rating agency Fitch's report. Fitch had indicated that Videocon may not bid for spectrum in the auction.

The company said that "as on date we have taken no such decision".

The apex court had cancelled 21 licences of Videocon, alongwith 101 licences of other companies, that were issued to in 2008. The permits of the company are valid till September 7 and will have to purchase spectrum in auction to continue its business.

Government has fixed minimum price for pan-India spectrum at Rs 14,000 in 1,800 Mhz band which is 7 times high compared to the amount that companies paid in 2008 to get spectrum alongwith licences. Videocon was allocated spectrum in this band for 2G GSM mobile services.