July 27, 2012 11:53 AM

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Resource allocation not through auction alone: States & corporates support Centre stand

Various state governments and corporate bodies supported the Centre's stand that all natural resources cannot be allocated to private companies only through auction as directed by the apex court in 2G spectrum verdict.

Appearing before a five-judge constitution bench headed by Chief Justice SH Kapadia, Confederation of Indian Industry, CII, contended the verdict was specific to spectrum allocation and it cannot be applied to all natural resources.

The CII Counsel was arguing on a reference sent by the President seeking a clarification from the apex court on the February 2 judgment of a Supreme Court bench in which it was held that all natural resources in all sectors should be allocated through auction.

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