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2 g spectrum scam

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This presentation is about 2G scam and the persons who involved in this scam.

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2 g spectrum scam

  1. 1.  The scam involving politicians and government officials in India  Illegally undercharging mobile telephone companies for frequency allocation licenses.  The shortfall between the money collected and the money that the law mandated to be collected is estimated to be 1766.45 billion (US$29 billion), as valued by the Comptroller and Auditor General of India
  2. 2.  Corporations accused: 1) Unitech 2) Swan Telecom 3) Videocon Telecommunications Limited 4) S Tel 5) Reliance Communications  Media persons accused: 1) Nira Radia  Businessmen accused: 1) Ratan Tata 2) Anil Ambani  Journalists accused: 1) Barkha Dutt 2) M.K. Venu 3) Vir Sanghvi 4) Prabhu Chawla 5) Shankar Aiyar
  3. 3.  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 agencies allege that A.Raja could have received 30billion as bribe. (US$500 million)
  4. 4.  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 illegal gratification.  Status:  Taken into custody (arrested) by CBI on 2 February 2011.
  5. 5.  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 circuitously route 2 billion (US$33 million) to Kalaignar TV
  6. 6.  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
  7. 7.  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 Etisalat for 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
  8. 8.  Tata first has been shown as a victim of DMK leader, A. Raja in the CBI first charge sheet. Surprisingly, CBI estimated loss of Rs. 8,448.95 crores to the exchequer from Tata’s dual technology licenses.  Tata not only got 19 dual technology licenses but also got 3 new licenses in 2008 at 2001 price for which loss to the exchequer is estimated to Rs .22,535.6 crores.
  9. 9.  A. Raja considered Tata applications for dual technology licenses even though these applications were filed after last date.  Tata was the biggest beneficiary of A. Raja policies and major contributor of loss to the exchequer claimed by CBI in its charge sheet.
  10. 10.  Anil Ambani, chairman of the Anil Dhirubhai Ambani Group (ADAG), is now a suspect in the 2G scam.  When Ambani was brought face-to-face with Raja and Balwa, he claimed that his group had exited Swan Telecom when it got the UAS licence on January 10, 2008.  The sources also disclosed that Ambani was asked more than 50 questions on the shareholding pattern since the incorporation of Swan Telecom - and the ownership transfer of the company to Balwa and Goenka.
  11. 11.  The Indian Income Tax department tapped Radia's phone lines for 300 days in 2008- 2009 as part of their investigations into possible money laundering, restricted financial practices, and tax evasion.  The CBI has announced that they have 5,851 recordings of phone conversations by Radia attempts to broker deals in relation to the 2G spectrum sale.  The tapes appear to demonstrate how Radia attempted to use some media persons to influence the decision to appoint A. Raja as telecom minister.
  12. 12.  Adverse effect on Economy.  Slowdown in Equity Investments.  Lack of transparency creating speculations.  Dip in revenue by 40% in 2010.
  13. 13. Thank you

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