2g Verdict

Sebi initiates probe; looking into trade positions and role of individuals

He extended his new year greetings to Raja and members of his family

The judgment provides a critique of how no proper evidence was presented on existence of an FCFS policy and its improper implementation

Former CAG Vinod Rai, who is also the head of BCCI's Committee of Administrators (COA) today refused to comment on the court verdict on the acquittal of 17 people in the 2G Spectrum scam. On December 21, former telecom minister A Raja and DMK MP Kanimozhi were acquitted by a special court in the 2G spectrum scam case. Fifteen others accused in the case and three companies were also acquitted. Rai, who was the Comptroller & Auditor General of India (CAG) when the national auditor filed the 2G scam report, was in town for a meeting of the COA, which runs the BCCI now. When a reporter sought for his comments on the 2G (case), Rai quipped: "Aap log cricket handle karto ho ya 2G handle karte ho (Do you guys cover cricket or 2G?)". Rai has so far not commented on the issue on any forum.

M K Staling hailed the acquittal of A Raja and Kanimozhi in the case last week

The philosophy of maximising public gains through auction as the only means to allocate resources has proved counter-productive, says Jayesh Desai, a nominee director on the Uninor board in 2010-11

Innocuous details in the 1,500-page verdict on the 2G case makes it an unputdownable read

A huge crowd of party cadres welcomed the former Union Minister at the airport here by playing traditional music and performing folk dances

The case throws up more general issues relating to institutional failures, public policy and judicial proceedings

India-Russia BIT allows a private investor to initiate dispute arbitration proceedings against the government to protect its investments

STel was operational in in five category C circles - Odisha, Bihar, Himachal Pradesh, North East and Assam - and had 3.6 million subscribers when its licences were cancelled

CBI's own witnesses disowned its investigation in court

Kanimozhi and Raja assembled at a designated place and received shawls presented by the party cadre

The 2G verdict raises serious questions about the prosecution

Former CAG Vinod Rai's office is credited with pegging the notional loss to the exchequer on account of 2G spectrum allocation on a 'first-come-first-served' basis in 2008 at Rs 1.76 lakh crore

Special Judge O P Saini acquitted all the accused, including then Telecom Minister A Raja and DMK MP Kanimohi, in both the cases filed by the CBI and ED

A special court today acquitted 19 accused, including former telecom minister A Raja and DMK leader Kanimozhi in the Enforcement Directorate's money laundering case relating to the 2G scam. Besides Raja and Kanimozhi, Special Judge O P Saini also acquitted Shahid Balwa, Vinod Goenka, Asif Balwa, Rajiv Aggarwal, Karim Morani, P Amirtham and Sharad Kumar in connection with the case. In its charge sheet, the ED had also named DMK supremo M Karunanidhi's wife Dayalu Ammal as an accused in the case in which it had alleged that Rs 200 crore was paid by Swan Telecom (P) Ltd (STPL) promoters to DMK-run Kalaignar TV. In its final report, the ED had named 10 individuals and nine companies as accused and listed them in the charge sheet for the offences under the Prevention of Money Laundering Act. Besides Kalaignar TV, the other companies accused in the case were STPL (now Etisalat DB Telecom (P) Ltd), Kusegaon Realty (P) Ltd, Cineyug Media & Entertainment (P) Ltd, Dynamix ...

While Unitech has slipped 97% from Rs 257 on August 01 2007 to Rs 7 levels now, RCom slipped from Rs 530 levels back then to around Rs 17 levels now. By comparison, the Sensex has gained around 126%

Of the eight companies which lost licences, only Idea Cellular seems to have survived the telecom sector storm

The alleged scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the CAG of India, loss of Rs. 1.76 lakh crore