The revised 2G auction deadlines after the Supreme Court extension grant would have different implications for different parties involved:

1. For telcos whose licenses were cancelled in an earlier SC verdict:
Quite obviously, they get a fresh lease of life. They have already been on ventilators that were due to be cut off on September 7, 2012. Now the life support has been extended till January 18, 2013. For those who have decided not to rebid at the proposed reserve prices may preciously use this four-month period to wind off their operations as smoothly as possible. For those who would still like to make bids, at least in select circles, the extension gives them more time to scout for funds and to wind off operations in circles that they don’t want.
2. For telcos who just want to add more spectrum to better their network and quality of service:
While one doubts that many would be keen to make pan-India bids (BusinessandMarket would certainly advise against it), the extension gives them too more time to muster funds.
BusinessandMarket opinion is that telcos would be better off mulling ways to improve their spectrum efficiencies instead of contemplating actions for pan-India 2G bids at such high reserve prices. (See Reduced emphasis on licensed spectrum:
3. For empowered group of ministers on telecom and the licensor (Department of Telecom): 
They could focus on garnering more support and commitment from telcos for participating in the upcoming bids, as the thinking to stay away from the bids is ever building up in the industry. It may be useful to sit across the table and be more appreciative of the ground realities of the Indian market, which is already pressured by ultra-competitiveness and low pricing.
4. For the subscribers:
Those on the networks where the licenses were scrapped now can wait—and watch—for some more time if they were contemplating to migrate to other networks. In the coming two months or so, curtains should lift off the plans of various service providers and investors, which should help subscribers take better decisions. For subscribers at large, the quality-of-service situation would remain not-so-good for the months to come, given that many networks, especially in the metros, would remain pressured with spectrum paucities.
5. For the investors: 
They have been a worried lot indeed, given the unparalleled uncertainties prevailing in the telecom sector in India. Many of them already have high exposure to this sector and with the falling profitability of many a telco being a trend rather than an exception, there is a heightened need for caution. While they have earned well in terms of interests on the debts provided so far, that can’t be a comforting factor as it doesn’t guarantee the investments to be safe. However, the extension in auction deadline should come as a temporary respite to them, given that their investee telcos would have some time to better their financials before they decide with or against bidding for more spectrum. 
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