It is a scam done by the many politicians in India
and the Govt. officials of India
The Union Govt. of India at that time has been
accused for undercharging many of the telephone companies, also for illegal
allocation of the frequency licenses for the 2G
We Will Write a Custom Essay about It is a scam done
For You For Only $13.90/page!
Govt. of India has chosen Rothschild & sons (India)
pvt. Ltd for designing the E-auction mechanism which was new to the world and
first of its kind at that time and this deal costs 2.27bnUS$. But the money which has been
collected and that mandated to be collected was completely different and it was
estimated by both the comp-troller and the Auditor General of India was around ?1.76 trillion(US$27 billion), based on the 2010 3G and BWA spectrum-auction prices.
On 10 Jan, 2008,
companies are having only a few hours to supply LOI and payments and Raja has
already tipped off the many executives. Both the executives who have taken the
tip and minister who has given the tip were imprisoned.
Apr, 2011, A charge sheet has been filed by the CBI and states that the loss
was around US$4.8bn and soon after that TRAI was sent a reply to the CBI on
19Aug,2011 stating that the Govt. sold
of 2G spectrum illegally and they would
have gained US$470 million over this
Feb, 2012, A Public Interest litigation related to the 2G spectrum was ruled
out by the Supreme Court of India and it is also declared that allotment has
been made based on the unconstitutional and for the purpose of personal gain. Supreme
Court of India also announced that it has cancelled 122 licenses which are
issued in the year 2008 under A raja.
According to the Raja ” He have given many gifts to
various companies for the cost of public exchequer and also “Virtually gifted many
important national assets”
According to some
analysts all these kind of scams including 2010 common wealth games scam,
Adarsh society scam, Coal mining etc led to massive defeat of UPA Govt. in the
year 2014 Lokshaba elections
In India, We have 22 Tele-Communication Zones, which
has 281 Zonal licenses are there. Also The Govt granted the 122 2G Unified Access Service second generation licenses to telecom
companies on a FCFS basis at the 2001 price.