2G Case Supreme Court cancels all 122 licences – Latest News
The Supreme Court of India on 2-2-2012, Thursday gave a judgement and cancelled all the 122 telecom licences granted by former telecom minister A Raja on the ground that they were issued in a “totally arbitrary and unconstitutional” manner under the 2G spectrum on or after January 10, 2008. All the additional spectrum licences given to incumbents on or after January 10, 2008 have also been cancelled.
The Supreme Court’s judgement to discard 122 telecoms licences will likely impact less than 5% of the country’s mobile subscribers, the chief of the sector regulator told a television channel. A penalty of Rs. 5 crore has been imposed on Unitech Wireless, Swan Telecom and Tata Telecom. A penalty of Rs 50 lakh has also been imposed on Loop, S-Tel, Allianz and Sistema Shyam.
The 122 permits received through Raja with regard to more than Rs. 9,000 crore, whilst 3G online auctions for any scaled-down quantity of permits experienced fetched the federal government the amount of Rs. 69,000 crores.
Among these 122 licences issued by A. Raja in January 2008 on first—come first—serve basis, Uninor was alloted 22 pan India licences, Loop 21, Sistema—Shyam 21, Etisalat—DB 15, S Tel 6, Videocon 21, Idea 9 and Tatas 3.
2G Situation upon scandal within the supposed percentage associated with telecommunications permits from below-market costs, Large shed in order to Federal government in order to Rs 1.76 lakh crore These days upon Reveal marketplace Shares within telecommunications businesses such as Dependence Marketing communications as well as Unitech dropped following this Cancel information Decrease However gives within rival Bharti Airtel upward.
This 2G Case petitions filed by NGO CPIL and Janata Party President Subramanian Swamy alleging scam in the allocation of spectrum licences by Raja.