Rs 250 crore transfer not linked to 2G: Unitech
NEW DELHI: Responding to a report, “CBI on trail of Rs 250 crore sent by Unitech to Isle of Man” published on May 18, Unitech Ltd has stated that it has “always cooperated and continues to cooperate with the CBI in its investigation and has provided all the relevant materials asked for, in connection with the transfer of Rs 250 crore, which discounts the possibility of any quid pro quo” in the 2G spectrum allocation scam.
It has also pointed out that the investigation pertaining to the transfer of Rs 250 crore by the Unitech Group to the Isle to Man, as an investment, unconnected with the 2G case, is still underway and the CBI has not yet come to a final determination in connection with the matter.
The company has also said that contrary to the report stating that the “Unitech Ltd board had made no resolution for transferring… Continue reading
Out on bail
“Raja has become a symbol of corruption.”
The question of granting bail to an accused in a case is fairly simple in law but is often difficult and complicated in practice, especially in India. The norm is that bail is the rule and jail is the exception. But former Union telecom minister A Raja, accused of serious charges in the 2G spectrum allotment case, had to spend an exceptionally long period of 15 months in jail before he was granted bail by a CBI special court. He was the last accused to be released on bail in the case. It is a moot point whether investigations should take so long as to deny a person his rightful freedom for very long period. The processes of investigation and the procedures of the court are so long and time-consuming that the basic axioms of justice are sometimes observed only in violation. This… Continue reading
JPC term extended till end of winter session
New Delhi, May 17 (IBNS): The Lok Sabha on Thursday extended the term of the Joint Parliamentary Committee (JPC) investigating the 2G spectrum scandal till the end of the Winter Session to present its report.
The Lok Sabha adopted the motion moved by the committee chief P.C. Chacko.
The term of the committee was scheduled to end on the penultimate day of the Budget Session.
The JPC consists of nearly 30 lawmakers from different parties and is headed by Chacko of the Congress.
It was formed in 2011 to look into the policy prescriptions connected to the telecom sector between 1998 to 2009.
Supposedly masterminded by ex-telecom minister A Raja, the 2G scandal is so named because of the type of spectrum involved, and could have caused as much as Rs 1.76 lakh crore in losses to the exchequer according to the government’s auditor CAG.
Source: http://www.indiablooms.com/NewsDetailsPage/2012/newsDetails170512y.php
‘TRAI creating artificial scarcity of spectrum’
NEW DELHI, INDIA: Rising costs are making tariff hike inevitable. In a conversation with Muntazir Abbas of CyberMedia, Cellular Operators Association of India director general R.S. Mathews says spectrum refarming will have an adverse impact on the nation’s competitiveness.
“On one hand we are trying to compete with the world in terms of both physical and virtual infrastructure, such policies will definitely pull us down and act as a growth deterrent for virtual infrastructure,” he says.
Excerpts
CIOL: With tariff hike indication, are not the operators/industry creating pressure tactics on the government for leniency in 2G spectrum auction?
Mathews: Firstly, independent financial analysts, other industry bodies like CII, banks, research firms like Analysys Mason, audit and consulting firms such as PwC, E&Y, etc. have all opined that the reserve prices are too high and will be ruinous for the industry. So, this is not an opinion held only by the… Continue reading
Lok Sabha nod for 2G panel’s extension
New Delhi, May 17 — The Lok Sabha Thursday agreed to extend the term of the joint parliamentary committee (JPC) probing the 2G spectrum issue till the end of the winter session in December this year.
This is the second extension being granted to the committee.
A motion for the purpose, moved by the panel’s chairman P.C. Chacko, a Congress MP, was passed by the house by a voice vote.
This extension gives the committee time to submit its report on its probe in the spectrum allocation affairs by the end of the Lok Sabha sitting during the winter session.
The committee’s term was to end on the last day of the budget session on May 22.
The first extension to the panel was given in September last.
The panel consists of 20 Lok Sabha MPs and 10 Rajya Sabha MPs. It was formed on March 4 2011 to probe… Continue reading
2G scam: JPC gets another extension, can submit report by end of winter session
The Joint Parliamentary Committee (JPC) probing the 2G spectrum scam has now got more time to submit its report. This is because Lok Sabha today extended the term of this Parliamentary panel to the last date of the winter session.
Mr P.C. Chacko, who heads the JPC, moved the motion, which was adopted by the Lower House on Thursday.
This is the second extension of term for the committee, which consists of 20 members from the Lok Sabha and 10 from the Rajya Sabha. The JPC was constituted on March 4 last year to look into the entire gamut of policy prescriptions in the telecom sector from 1998 to 2009.
The panel was to originally submit its report by the end of the monsoon session last year. In September 2011, the Lok Sabha extended the JPC term to the end of this year’s budget session.
With… Continue reading
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