Telecom Minister Kapil Sibal on Wednesday rejected the demand of Videocon Telecommunication's chief executive officer Arvind Bali to refund difference in amount paid by his company during November auction for the 2G spectrum and the final price to be derived in upcoming spectrum auction.

Bali raised the demand while participating in an open house discussion on telecom industry which was also attended by the minister. The contention of the Videocon CEO was that TRAI’s recommendations recognize and reconfirm the fact that the reserve price fixed for the Nov 2012 auction was wrong and those who bid for spectrum in the said auction have paid prices which are exorbitantly high and would not support their business case.

Even while reacting to the recommendations two days back he said that these are favorable to the existing players who acquired license prior to 2008, and is penalizing the “new players like us.”

New telcos, such as Videocon, Sistema and Telewings, who has spent Rs 4,000 crore more in November auction are feeling cheated by TRAI’s new recommendations.

Sibal while responding to the demand said that the operators participated in the November bid own their own and were not forced to do so.

On the issue of levying the maximum Rs 50 crore per circle penalties, Sibal criticised the DoT officials for not taking into account the merits of the case.

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