The CBI and Enforcement Directorate investigations have estimated that former telecom minister A Raja could have got bribes to the tune of Rs 3,000 crore, and have put the loss to the exchequer due to selling of spectrum at undervalued rates at Rs 40,000-50,000 crore. The two agencies have linked bribes Raja allegedly got to his order on January 2008 bringing forward the cut-off date for applications for spectrum from the...
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Subbarao deposes before PAC by Neena Vyas
Reserve Bank of India Governor D. Subbarao on Thursday deposed before the Public Accounts Committee (PAC), which is looking into the Comptroller and Auditor General (CAG) report on the 2G spectrum allocation scandal. PAC chairman Murli Manohar Joshi said the committee had some questions to ask related to Dr. Subbarao's stint as Finance Secretary in 2007-08 just before he became RBI Governor. At a previous meeting of the PAC, another former...
More »Companies named by CAG set to face CBI heat by Shalini Singh
After Raja, Behura and Chandolia, the heat's now on the new 2G licencees which have benefited from the telecom scam. Fear stalks the telecom industry that the CBI may now zero in on promoters and senior executives of some companies. The CBI FIR of October 2009 says, "Certain officials of DoT entered into a criminal conspiracy with certain private persons/companies and misused their official position in grant of Unified Access Service...
More »CBI arrests former Telecom Minister A Raja by Vinay Kumar
Former DoT Secretary Behura and Raja's aide Chandolia also taken into custody, to be produced in court today The Central Bureau of Investigation on Wednesday arrested the former Union Communications and Information Technology Minister, A. Raja, and two officers who had worked under him, for their role in the grant of licences and allocation of 2G spectrum during 2008 in violation of established guidelines and procedures. Mr. Raja (47), as well...
More »Urgent steps needed to curb rising food and other commodity prices, UN warns
Senior United Nations officials today called for urgent steps to rein in the rising prices for basic farm produce, petroleum and raw industrial materials whose volatility hits the world’s poorest people the hardest. “Such volatility has huge negative impacts on vulnerable groups, such as low-income households in developing countries, for whom food expenditure can account for up to 80 per cent of household budgets,” UN Conference on Trade and Development...
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