Select stocks spurt as special court acquits all in 2G scam

Shares of the companies whose managements were accused in 2G spectrum scam spurted at 11:09 IST on BSE after a special CBI court reportedly acquitted all accused in the 2G spectrum scam.

Reliance Communications (up 7.12% at Rs 18.50), Unitech (up 15.82% at Rs 8.20) and DB Realty (up 19.89% at Rs 43.70), edged higher.

The S&P BSE Sensex was up 14.41 points, or 0.04% at 33,791.79.

According to media reports, the Central Bureau of Investigation (CBI) special court of judge O P Saini today, 21 December 2017, acquitted all accused in the 2G spectrum scam, as the prosecution failed to prove the case against them.

Among others in the long list of accused in the case were some of the key executives of the Anil Ambani-led Reliance group, former telecom secretary Siddhartha Behura and former personal secretary to A Raja, R K Chandolia.

The scam relates to the 2G spectrum licence allocations in 2007-2008 which caused a loss of Rs 1.76 lakh crore. The trial began in 2011 after the court had framed charges against 17 accused in the CBI's case for the offences which entails punishment ranging from six months in life imprisonment.

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