2 g spectrum scam

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The scam involving politicians and governmentofficials in India

Illegally undercharging mobile telephonecompanies for frequency allocation licenses.

The shortfall between the money collected and themoney that the law mandated to be collected isestimated to be 1766.45 billion (US$29 billion), asvalued by the Comptroller and Auditor General ofIndia

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Corporations accused:1) Unitech2) Swan Telecom3) Videocon

TelecommunicationsLimited

4) S Tel5) Reliance Communications

Media persons accused:1) Nira Radia

Businessmen accused:1) Ratan Tata2) Anil Ambani

Journalists accused:1) Barkha Dutt2) M.K. Venu3) Vir Sanghvi4) Prabhu Chawla5) Shankar Aiyar

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Political career : Political party - DMK Present constituency - Nilgiris, Tamil Nadu Former Union Cabinet Minister (Communication and

Information Technology – 2007 & 2009)

Allegation: In a joint investigation report prepared by Central Bureau of

Investigation (CBI) and Income Tax Department the agenciesallege that A.Raja could have received 30billion as bribe.(US$500 million)

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Charges: Criminal breach of trust by a public servant under section

409 Criminal conspiracy under section 120-B, cheating under

section 420 & Forgery under sections 468 and 471. Booked under

the Prevention of Corruption Act for accepting illegalgratification.

Status: Taken into custody (arrested) by CBI on 2 February 2011.

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Political Career: Daughter of five-time

Chief Minister of Tamil Nadu,M. Karunanidhi.

Political party DMK. She is a member of parliament, representing Tamil Nadu in

the Rajya Sabha (the upper house of Indian Parliament).

Allegations: As per the chargesheet filed by CBI Kanimozhi has 20%

stake in her family owned Kalaignar TV worked along with former telecom minister A. Raja to

get DB Realty promoter Shahid Balwa to circuitouslyroute 2 billion (US$33 million) to Kalaignar TV

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Charges: Criminal conspiracy to cause criminal breach of trust by a

public servant, criminal conspiracy under section 120-B Cheating under section 420 & Forgery under sections 468 and 471. Booked under the Prevention of Corruption Act

Status: Taken into custody (arrested) by CBI on 20 May 2011

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Unitech, Swan Telecom got licenses without any prior telecom experience

Swan Telecom given license even though it did not meet eligibility criteria

Swan got license forRs.1537 crore, sold 45% stake to Etisalatfor Rs.4200 crore

Unitech Wireless got license for Rs.1661 crore, sold 60% stake for Rs.6 200 crore

All nine companies paid Dot only Rs.10,772 crore for 2G licences

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Tata first has been shown as a victim of DMKleader, A. Raja in the CBI first charge sheet.Surprisingly, CBI estimated loss ofRs. 8,448.95 crores to the exchequer from Tata’s dualtechnology licenses.

Tata not only got 19 dual technology licenses but also got 3new licenses in 2008 at 2001 price for which loss to theexchequer is estimated to Rs .22,535.6 crores.

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A. Raja considered Tata applications for dualtechnology licenses even though these applicationswere filed after last date.

Tata was the biggest beneficiary of A. Raja policiesand major contributor of loss to the exchequerclaimed by CBI in its charge sheet.

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Anil Ambani, chairman of the AnilDhirubhai Ambani Group (ADAG), is nowa suspect in the 2G scam.

When Ambani was brought face-to-face with Raja andBalwa, he claimed that his group had exited SwanTelecom when it got the UAS licence on January 10, 2008.

The sources also disclosed that Ambani was asked morethan 50 questions on the shareholding pattern since theincorporation of Swan Telecom - and the ownershiptransfer of the company to Balwa and Goenka.

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The Indian Income Tax department tappedRadia's phone lines for 300 days in 2008-2009 as part of their investigations intopossible money laundering, restrictedfinancial practices, and tax evasion.

The CBI has announced that they have 5,851 recordingsof phone conversations by Radia attempts to broker dealsin relation to the 2G spectrum sale.

The tapes appear to demonstrate how Radia attempted touse some media persons to influence the decision toappoint A. Raja as telecom minister.

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Adverse effect on Economy.

Slowdown in Equity Investments.

Lack of transparency creating speculations.

Dip in revenue by 40% in 2010.

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Thank you