- Videocon had paid Rs 1,500 crore for procuring telecom permits
- A company source claims Videocon suffered loss of over Rs 10,000 crore
- Court had cleared all accused in the 2G case on Thursday
"Videocon Telecommunications is planning to file a compensation suit against the government for at least Rs 10,000 crore. The damage is estimated to be more than Rs 10,000 crore and the company is working on final amount that is to be claimed," a source close to senior management was quoted as saying by PTI.
The Central Bureau of Investigation (CBI) court on December 21, 2017 gave exonerated all accused, including the then telecom minister A Raja, in 2G spectrum allocation case of 2008.
Following the top court judgement, Videocon participated in spectrum auction and purchased permit in 1800 MHz band, then known as 2G spectrum, across six circles - Bihar, UP (East), UP (West), Haryana, Madhya Pradesh and Gujarat in November 2012 for Rs 2,221.44 crore.
The company could not sustain the business because of rising spectrum cost in auction and later sold the entire spectrum purchased in the 2012 auction to Bharti Airtel.
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