SC agrees to hear banks in Aircel-Maxis case

Team Udayavani, Jan 24, 2017, 11:30 AM IST

New Delhi: The Supreme Court today agreed to hear on February 3 the plea of consortium of banks led by State Bank of India that it be heard in the Aircel-Maxis 2G spectrum case as it has got financial exposure in the firm concerned.

A bench headed by Chief Justice J S Khehar said that it would hear the plea on the date fixed in the case when Attorney General Mukul Rohatgi, appearing for banks, sought urgent hearing on the ground that the PSU financial institutions had lent money to Aircel.

The apex court had earlier taken a tough stand and restrained transfer of 2G licences from Malaysia’s Maxis, which was originally allotted to Aircel, to any other telecom firms.

It had said that the Malaysian businessman T Ananda Krishnan, the owner of Maxis Group, and Ralph Marshall, an officer of the company, will have to make appearance before it on February 3 otherwise the 2G licences granted to Aircel shall be seized.

Rohatgi told the bench, also comprising Justices N V Ramana and D Y Chandrachud, that the banks, having substantial exposure in the telecom company would be an affected party.