Following are analysts' comments after the Supreme Court on Thursday revoked 122 telecoms licences

RELATED ARTICLES Essar's Ravi Ruia, Loop executives get bail in 2G case 2G case: Top TTSL official says not aware of deficiencies Expert views on March industrial output 2G case: SC grants bail to Behura, upholds bail to Chandolia

issued under a scandal-tainted 2008 sale in a judgement that could further darken the business climate in Asia's third-largest economy.

Rishi Sahai, Director at consultancy firm Cogence advisors

"For foreign investors, it is a very bad news. What mistake did they do? They partnered with Indian companies, invested lots of money and followed the process of that time.

"The natural consolidation that one would have expected to happen in the sector, which would have weeded out the weak players, is out of the way now. Foreigners would simply walk away from that.

"This creates very bad impression about the government in the overseas markets."

Jagannadham Thunuguntla, Head of Research, SMC Investments

"Players like Bharti Airtel and Idea Cellular with popular brands and strong balance sheets will be clear beneficiaries because they can take advantage of this situation and increase market share.

"Foreign players like Systema and Etisalat, which are government controlled companies... those governments will start feeling apprehensive about doing business in India and hence, drawing foreign direct investment would be little more challenging for the country."



Deven Choksey, Chief executive officer, KR Choksey securities

"The Supreme Court wants the government and the ministry to come to a conclusion and clear the licence ruckus because this entire controversy has been terrible.

"The market is viewing it positively and will only recover because the earlier licences which have been cancelled will be re-issued after the revised guidelines come out and the monetary considerations will be swapped against the new licences."