The CBI will charge India’s top conglomerates the Essar Group and Relaince ADAG with criminal conspirary and cheating in the multi billion dollar 2G Telecom Licenses Scandal.This Corruption Scam was brought directly under the control of the Supreme Court as the government failed to move against powerful businessmen and politicians.Now the investigative agencies which have broken free from the ruling party’s interference have given the status of the investigation to the Court.The CBI has said that the 2 companies Loop and Swan Telecom were used as front companies by established telecom operators Essar and Reliance Communications to get more license.Note this defeated the entire exercise and there is ample circumstantial evidence to prove that the telecom minister Raja and his cronies connived with the companies to give precious spectrum for a song.Massive kickbacks were given through real estate companies like DB Realty whose top billionaire owners are cooling their heels in jail as well.<\/p>\n
It remains to be seen whether the top corporate executives of India’s topmost conglomerates get prosecuted over these wrongdoings.Essar and ADAG are amongst the top 10 conglomerates in India with wide ranging operations with billions of dollars in revenues nationally as well as internationally.The Supreme Court has been instrumental in bringing this case so far as the government seems totally coopted by corruption.It has been frequently been castigated by the Supreme Court and has shamelessly defended corrupt bureaucrats and politicians.It remains to be seen how this 2G Telecom Case ends.If justice is done,then it may provide a new chapter to India’s corruption ridden story till now.<\/p>\n
The Central Bureau of Investigation (CBI) on Tuesday informed the Supreme Court that telecom companies \u2014 Swan Telecom and Loop Telecom \u2014 were used as front companies by established telecom players to get 2G spectrum illegally during the tenure of former Telecom Minister A. Raja.<\/p>\n
Swam Telecom\u2019s promoter Shahid Usman Balwa has been arrested by the CBI and ADAG firm RCom\u2019s chairman Anil Ambani has also appeared before the agency in connection with the 2G spectrum scam.<\/p>\n
The CBI submitted before the court that Swan and Loop hid the details about their companies to get spectrum and they will be facing charges of \u201ccheating\u201d and \u201ccriminal conspiracy\u201c.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
It remains to be seen whether the top corporate executives of India’s topmost conglomerates get prosecuted over these wrongdoings.Essar and ADAG are amongst the top 10 conglomerates in India with wide ranging operations with billions of dollars in revenues nationally as well as internationally.The Supreme Court has been instrumental in bringing this case so far as the government seems totally coopted by corruption.It has been frequently been castigated by the Supreme Court and has shamelessly defended corrupt bureaucrats and politicians.It remains to be seen how this 2G Telecom Case ends.If justice is done,then it may provide a new chapter to India’s corruption ridden story till now.<\/p>\n","protected":false},"author":54,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","content-type":"","footnotes":""},"categories":[1],"tags":[698,775,799,936,939,1247,2243,2251,2441,2969,3263,3325,3391,3393,3450,3536,4141,4317,4556,4557,5453],"class_list":["post-3446","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-big-business","tag-bribery","tag-bureaucracy","tag-cash","tag-cbi","tag-corruption","tag-government","tag-graft","tag-hawala","tag-economy-indian-capital-markets","tag-judge","tag-land","tag-legal","tag-legislature","tag-loan","tag-manipulation","tag-price-rigging","tag-regulator","tag-scam","tag-scandal","tag-telecom-technology"],"_links":{"self":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/3446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/comments?post=3446"}],"version-history":[{"count":0,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/3446\/revisions"}],"wp:attachment":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media?parent=3446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/categories?post=3446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/tags?post=3446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}