SC quashes 122 licences of 2G spectrum scam: Justices Singhvi and Ganguly

Thursday quashed all 122 spectrum licences granted after January 2008.

NEW DELHI: In a major setback for the government, the Supreme Court on Thursday quashed all 122 spectrum licences granted after January 2008.

The apex court left it open for the trial court to decide whether home minister P Chidambaramneeds to probed in the 2G scam.

The SC said that there was no need for SIT to monitor the 2G scam probe.

The SC verdicts came on Janata Party president Subramanian Swamy’s petition seeking a CBI probe into the alleged role of home minister P Chidambaram in the spectrum scam, and on two pleas by lawyer Prashant Bhushan seeking cancellation of 2G licences and setting up of an SIT to monitor probe into the scam.

Swamy has demanded a CBI probe into the role of Chidambaram with regard to the 2G scam. The Janata Party chief, who is the petitioner in the 2G case, has alleged that Chidambaram, then the finance minister, could have prevented jailed former telecom minister A Raja from giving away spectrum at throwaway prices to select companies, but chose not to do so.

Swamy had won a success in the court on Tuesday when Justices Singhvi and Ganguly upheld his right to seek the prosecution of Raja for the 2G scam and indicted the PMO for delaying prosecution of the sacked telecom minister.

Source: TOI with Ref Sources.

Related Telecom Service Provider got Fine as well as Soon TRAI release new licence for re-auction.

The Supreme Court has cancelled 122 licenses for mobile networks issued during A Raja’s tenure as Telecom Minister. The decision is likely to send India Inc into a seizure and impact foreign investor confidence. The verdict on Thursday impacts huge telecom players like Unitech Wireless, Tata, Aircel and Idea. The Supreme Court has asked the telecom regulator TRAI to make fresh recommendations for how 2G licenses should be allotted.

Six telecom firms have been fined. Three of them, Etisalat, Uninor and TATA, have been penalized Rs five crore each . Loop and Essar have been fined Rs 50 lakhs each.

Source: Profit NDTV

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Author: Malvaniya Prashant

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