Supreme Court’s intransigence over giving relief to telecom firms that owe Rs 1.4 lakh crore to the government is inexplicable. Similar landmark — but unreasonable — verdicts have hurt the economy in recent years, contributing to the slowdown. The last thing the court should be doing is bankrupting the telecom sector.
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This is really a matter between the government and the telecom sector. TRAI can play a useful role in presenting the DoT with reasonable options. There is no scam here, no Raja like giving away of largesse. The sector is bleeding. A dominant firm like Vodafone could collapse. A large volume of bank loans could become NPAs. To satisfy its judicial conscience, the apex court could direct the government to file on affidavit the final resolution package that has been agreed to, along with detailed justification and calculations, of the sort that would underpin a note placed before the Cabinet for its approval.