Prime Minister Dr Manmohan Singh today held consultations with senior cabinet colleagues on Supreme Court's decision to cancel 122 licences for 2G spectrum and its impact on overall telecom sector .

The meeting was attended by Finance Minister Paranab Mukherjee, Home Minister P Chidambaram, Telecom Minister Kapil Sibal and Law Minister Salman Khurshid. Attorney General G E Vahanvati and Telecom Secretary R Chandrashekhar were also present.

Speaking to reporters later, Mr Sibal said, this meeting was to inform senior ministers as to what are the implications and ramifications of the judgement. He said this group was not meant to take any decision. Mr Chandrashekhar apprised the meeting about the finer points of the judgement and its impact on the telecom sector,
amidst fears that the FDI flow could be affected.

The Telecom Secretary gave a full presentation on what the judgement is about, what it means and ways to move
forward.

Last week, the Supreme Court had cancelled 122 2G licences granted during the tenure of former telecom minister A Raja declaring it as illegal and blamed the government's flawed
first-come-first served policy.