CBI 2G Telecom Scandal – Criminal Conspiracy,Cheating Charge against Essar,Reliance Communications;Will SC throw top executives in Jail like Raja
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March 29, 2011The 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.
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.
Swan, Loop used as front companies to get spectrum: CBI
The Central Bureau of Investigation (CBI) on Tuesday informed the Supreme Court that telecom companies — Swan Telecom and Loop Telecom — were used as front companies by established telecom players to get 2G spectrum illegally during the tenure of former Telecom Minister A. Raja.
Swam Telecom’s promoter Shahid Usman Balwa has been arrested by the CBI and ADAG firm RCom’s chairman Anil Ambani has also appeared before the agency in connection with the 2G spectrum scam.
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 “cheating” and “criminal conspiracy“.
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Thank you for your good job on the Indian Economy and the CBI. I am a keen reader of your works. Kindly update me on all criminal cases in courts associated with Essar Telecoms in India.
Thank you Godfrey for your comments.As for Essar Telecom,they are embroiled problems as Reliance though none of their executives have been jailed as of now.The chargesheet will be filed soon by the CBI and we will get more details.
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