The document summarizes the 2G spectrum scam that occurred in India in 2008. The key events were that 122 new 2G licenses were granted by the then telecom minister A. Raja to telecom companies on a first-come, first-served basis at 2001 prices. This resulted in an estimated loss of 1.76 lakh crores to the exchequer. A. Raja and other politicians, bureaucrats, and corporate personalities were accused of criminal misconduct and taking bribes. The scam was later busted in 2010, licenses were scrapped, and some accused were arrested.