Escolar Documentos
Profissional Documentos
Cultura Documentos
SCAM
CONTENTS
About 2G. What is 2G spectrum scam? Who are Involved? Media Response. Market Response. Steps Taken by Govt. Political Response to Scam. Conclution & Your Thoughts.
WHAT IS 2G?
2G means: Second-Generation Wireless Telephone Technology 2G is relatively new technology in the field of mobile. 2G is not just a network but a good technology. 2G spectrum was the revolutionary technology in their time, it comes with some more benefits.
1. SMS facility was first started with network. 2. Safe for the use, means security level was high. 3. Environmental conditions was very good for this network & no network shortage was there.
HISTORY OF 2G
2G spectrum technology was first launched in 1991 in Finland only in the GSM mobile phones but this is not the latest technology that we are using. As 2G was launched in 1991 so many other technologies overcome it with 2.5G, 2.75G technologies but the latest technology in present world is 3G.
The 2G scandal is unlikely to hurt India's investment appeal globally, according to Alok Shende, principal analyst and founder director of Ascentius Consulting. "Foreign investors may actually perceive the role of courts and rule of law, the role and independence of the CAG and the will of the vernment to unearth this scam as a positive attempt to spring-clean all that was wrong,"
One of the main person behind the Indias Largest Corporate Fraud.
A. Raja (Born May 10, 1963, Perambalur, Tamil Nadu, India) is an Indian politician from the Dravida Munnetra Kazhagam(DMK) political party. He is a member of the 15th Lok Sabha representing the Nilgiris constituency of Tamil Nadu. Raja was first elected to the Lok Sabha in 1996 and first served as minister of state from 1999 to 2003. On being re-elected to the Lok Sabha in 2004, he became a cabinet minister in the UPA government. In 2007, he became cabinet minister for communication and information technology. On being re-elected in 2009 he was again appointed cabinet minister for communication and information technology until being tainted in the 2G spectrum scam and resigning in 2010.
Anil Ambani - Reliance Group (ADAG) Shahid Balwa - DB Realty and DB Etisalat (Swan Telecom) Vinod Goenka - Dynamix Group Venugopal Dhoot - Videocon Group Prashant Ruia - Essar Group All of them have either been question by the CBI or are prospective suspects in the scam.
SHORTFALL OF MONEY
A. Raja arranged the sale of the 2G spectrum licenses below their market value. Swan Telecom, a new company with few assets, bought a license for 1,537 crore (US$333.53 million). [15] Shortly thereafter, the board sold 45% of the company to Etisalat for 4,200 crore (US$911.4 million). Similarly, a company formerly invested in real estate and not telecom, the Unitech Group, purchased a license for 1,661 crore (US$360.44 million) and the company board soon after sold a 60% stake in their wireless division for 6,200 crore (US$1.35 billion) to Telenor
The tapes leaked to the public include conversations between Nira Radia and Ratan Tata. Tata petitioned the government to acknowledge his right to privacy and demanded accountability for the leak, with the Minister for Home Affairs, CBI, Indian Income Tax Department, the Department of Telecommunication, and the Department of Information Technology as respondents in the petition.
CORPORATIONS INVOLVED
Unitech Group: A real estate company entering the telecom industry with its 2G bid; sold 60% of its company stake at huge profit to Telenor after buying licensing (Including land values properties for towers). Swan Telecom: It sold 45% of its company stake at huge profit to Emirates Telecommunications Corporation (Etisalat) after buying licensing. Videocon Telecommunications Limited Reliance Communications Sistema Shyam Mobile (MTS) Sistema Mobile Russia Tata Communications Vodafone Essar Loop Mobile S Tel Dishnet Wireless Allianz Infra
RESPONSE TO SCAN
In early November 2010 Jayalalithaa accused the Tamil Nadu state chief minister M Karunanidhi of protecting A.Raja from corruption charges and called for A. Raja's resignation. By mid November A.Raja resigned. In mid November the comptroller Vinod Rai issued showcause notices to Unitech, S Tel, Loop Mobile, Datacom (Videocon), and Etisalat to respond to his assertion that all of the 85 licenses granted to these companies did not have the up-front capital required at the time of the application and were in other ways illegal.
RESPONSE TO SCAN
In response to the various allegations , the Govt of India has replaced the then incumbent Telecom minister ,A Raja with Kapil Sibal who has taken up this charge in addition to being the Union minister for Human Resources Development.Mr Sibal contends that the "notional" losses quoted are a result of erroneous calculations and insists that the actual losses are nil.
RESPONSE TO SCAN
The CBI conducted raids on Raja and four other telecom officials - former telecom secretary Siddharth Behura, Raja's personal secretary R K Chandolia, member telecom K Sridhar and DoT deputy director general A K Srivastava on 8 December 2010. Raja, Behura and Chandolia were arrested on Feb 2nd 2011.
THANK YOU