NEW DELHI:  Hours after Supreme Court cancelled 122 licences for 2G spectrum, the Prime Minister, Dr Manmohan Singh on Thursday held consultations with his senior colleagues on the issue and its implications.

Dr Singh held the consultations soon after the meetings of cabinet and cabinet committee on economic affairs, sources said.
At the meeting, the implications of the apex court verdict are understood to have been deliberated upon.
Officially, the government has stated that it welcomes the judgment and rejected suggestions that it was an indictment of the Prime Minister or Home Minister Mr P Chidambaram, who was the Finance Minister in 2008 when the licences were issued.
The Telecom Minister, Mr Kapil Sibal told reporters that the government will abide by the judgment that the spectrum should be auctioned.
While the government is treading cautiously on the issue, a section feels that a curative petition could be filed in connection with January 31 order of the apex court which indicted the PMO on failure to decide on prosecuting Mr A Raja in 2G case.
In that order, the Supreme Court had set a limit of four months for deciding the issue of sanction for prosecution of corrupt public servants.
Opposition parties  pilloried the government over the Supreme Court verdict on the 2G scam, saying it was a “severe indictment” and demanded that Prime Minister own up responsibility with BJP demanding his resignation.
Maintaining that the SC order raised serious questions on the credibility, transparency and integrity of the UPA government, the BJP spokesman, Mr Ravi Shankar Prasad said Dr Singh “cannot escape” the political responsibility as he is head of the government. The BJP also sought the resignation of the Home Minister, Mr P Chidambaram for his alleged role in the 2G spectrum allocation when he was the finance minister.
Both the BJP President, Mr Nitin Gadkari and his party colleague and  Gujarat Chief Minister, Mr Narendra  Modi  demanded that the Prime Minister step down immediately.
“He (PM) has no moral right to continue in office. He should resign on moral grounds,” Mr Gadkari said in Faizabad.
The CPI-M said the apex court’s order was a “strong indictment” of the government and asked the Prime Minister to take a call on its fallout as it has exposed the “bluff” on the UPA-II’s claims.
The CPI general-secretary, Mr A B Bardhan said it was Mr Chidambaram’s job as the then finance minister “to prevent irregularities. He has no right to look away. There is criminal culpability”.
The Tamil Nadu Chief Minister and AIADMK chief, Ms J  Jayalalithaa welcomed the apex court verdict but declined to comment on the demand for resignation of Mr Chidambaram “at this stage”.
BJP leader Mr Arun Jaitley said, “Chidambaram himself must consider his continuance as Home Minister as untenable.”
Mr Arun Shourie, who was the telecom minister in the NDA government, claimed that under the principle of collective responsibility, the Prime Minister too is responsible for the 2G scam.