2G Case Supreme Court cancels all 122 licences – Latest News
In a huge embarrassment to the government and a jolt to the telecom sector, the Supreme Court on
Thursday cancelled 122 2G licences granted during the tenure of former Telecom Minister A. Raja
declaring it as “illegal” and blamed the government’s flawed first-come-first served policy.
The 122 licences were given by Raja for over Rs 9,000 crore, while 3G auctions for a smaller number
of licences had fetched the government a sum of Rs 69,000 crores.
The apex court left it to the trial court to decide on the demand for investigation of the alleged
role of Chidambaram into the 2G spectrum allocation scam but refused to give direction to CBI on
the issue.
2G Case on scandal over the alleged allocation of telecom licences at below-market prices, Huge
lose to Government to Rs 1.76 lakh crore Today on Share market Stocks in telecoms companies
including Reliance Communications and Unitech fell after this Cancel news Drop But shares in
competitor Bharti Airtel up
this 2G Case petitions filed by Subramanian Swamay
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