India's biggest scam: 2G spectrum a $4.685+BILLION scam, Supreme courts result coming today
The 2G spectrum loss is an alleged scam done by several politicians and government officials under the Indian National Congress.
The company NM Rothschild & Sons were choosed by the govenrment to design an e-auction mechanism in the world, a US$2.27 billion deal.
India calculated that the difference between collected money and estimated money is ₹1.76 trillion (US$27 billion), based on 2010 3G and BWA spectrum-auction prices.
On 02/04/2011:
a chargesheet filed by the Central Bureau of Investigation , the loss was estimated ₹309,845.5 million (US$4.8 billion).
On 2 February 2012:
The supreme court declares the spectrum as "unconstitutional and arbitrary", and cancelled 122 licences under A. Raja the Telecom Minister.
On 3 August 2012:
The Government of India revised the base price for 5-MHz 2G spectrum auctions to ₹140 billion (US$2.2 billion), hence raised its value to nearly ₹28 billion per MHz.
Accused persons
• A RAJA: Politician
Former telecom minister, he is the main accused and charged with cheating, criminal conspiracies and forgery.
• KANIMOZHI: Politician
She and some other directors of kalaignar TV are accused of receiving US$31 million from Cineyug and charged with curroption, criminal breach, cheating and forgery.
• SIDDHARTHH BEHURA: Bureaucrat
He is the former telecom secretary at that time and accused of being part of the conspiracy and charged with cheating, criminal breach and curroption.
• R K CHANDOLIA: Bureaucrat
He is RAJA's private secretary so faced similar charges as his boss.
• SHAHID BALWA: Businessman
Accused of giving false information of pattern of share holding of Swan Telecom to DOT.accused of bribing public servant and giving US$31 million to kalaignar TV.
• KARIM MORANI: Corporate promoter and director, Cineyug Films
Charged with conspiracy, fabrication of evidence and forgery.
• SANJAY CHANDRA: United executive
Accused working with RAJA and CHANDOLIA to obtain license for his company, charged for conspiracy, hiding evidence and forgery.
some small names
ASIF BALWA, RAJIV AGARWAL, SIDDHARTH KUMAR, GAUTAM DOSHI, HARI NAIR, SURENDRA PIPARA, RAVI RUIA, ANSHUMAN RUIA, VIKASH SHARAF and IP KHAITAN AND KIRAN KHAITAN.
so sad...boss
Yes very sad news, but the decision came on yesterday was more shocking....!!!
Due to lack of evidence none found guilty.
A huge scam , 7 year investigation and no victim..!!!
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