Indian court stands by 2G cancellation

India’s high court refused to review its decision to cancel 2G spectrum licenses Wednesday, saying there was no error in its ruling.

The Supreme Court dismissed seven petitions from operators, including Datacom, Etisalat-DB, Idea Cellular, S Tel, Sistema Shyam, Tata Teleservices and Uninor, to review the February ruling that revoked 122 2G licenses issued in 2008.

"We have carefully perused the review petition and the record of the case and are convinced that the judgment of which review has been sought does not suffer from any error apparent warranting its reconsideration," the court said, according to a report in the Economic Times of India.

The decision will spell the end for Datacom and S Tel, who will lose all of their licenses as a result of the license cancellations, the Economic Times reported.

Telenor and Sistema have threatened to sue the Indian government in the international arena on the grounds that the cancellations violate bilateral investment protection agreements.

However, Sistema has reportedly softened its stance, saying Wednesday that it was open to settling the matter out of court.