The toll increased to 3, as 92 more Covid patients succumbed to the virus. Raja, a former union minister acquitted in the 2G spectrum scam case, had lost the seat in the elections. You must login to keep earning daily check-in points. Lifetime 0 Expired 0 Redeemed 0. Total redeemable TimesPoints 0. Fri, Nov 12, Updated A trained economist, Swamy has a theory on why scandals like that of the 2G spectrum allocations actually occur. He refers to a theory of probability in his recent book, Corruption and Corporate Governance , that he also teaches at Harvard Summer School each year.
The expected value in a corruption-laden deal is a tradeoff between the quantum of punishment and the probability of being caught, he adds.
Such powers could be a quick-fix. It would be akin to inviting the devil to dinner in order to get rid of the local tough. But he urges caution on that path. Similarly, politicians violating rules should forfeit their parliamentary or legislative status and be debarred from public office, he adds. Log In or sign up to comment. Sign up for the weekly Knowledge Wharton e-mail newsletter, offering business leaders cutting-edge research and ideas from Wharton faculty and other experts.
The auditing agency further observed that politicians and government officials colluded with telecom companies to under-charge them for telecom spectrum allocated in licences in Currently, the scam is being probed by two investigating agencies: Central Bureau of Investigation and Enforcement Directorate.
Today's judgment will be based on page charge sheet filed by the CBI. If convicted, the accused could be awarded with minimum 6 months of imprisonment to life imprisonment. The CBI filed page charge sheet and said the loss was Rs 30, crore only. The CBI charge sheet said bribes paid to favour firms in granting 2G spectrum licenses. The CAG said licenses given to ineligible companies and those who had no experience of telecom such as Unitech and Swan Telecom.
Raja did not accept the view. Finance Ministry also wrote to Department of Telecom raising procedural concerns. The letter was ignored. The Supreme Court later cancelled licences calling them 'unconstitutional and arbitrary' and asked for a re-bid in February, The top court said Raja favoured "some companies at the cost of the public exchequer" and "virtually gifted away important national asset" Then Union Minister Kapil Sibal rejected the CAG's findings.
However, his "zero loss theory" was demolished on August 3, In April , in a page written statement to the joint parliamentary committee, Raja said that he met with P. After one year of trial in Nov , 77 of witnesses have been deposed.
The case was investigated by the Central Bureau of Investigation which filed an 80, page chargesheet before the trial court. On 16th November , the Comptroller and Auditor General of India CAG , the supreme auditing body of the country came out with its report on the issuance of licenses and allocation of 2G spectrum by the Department of Telecom.
CAG, then headed by Vinod Rai, revealed 2G licenses had been issued to telecom operators at throwaway prices causing a loss of Rs 1. Moreover, licenses had been issued to ineligible applicants who had deliberately suppressed facts, disclosed incomplete information, submitted fictitious documents and used fraudulent means for getting licenses and thereby access to spectrum. The premium earned by these new entrants to the telecom sector was estimated to be the true value of the spectrum.
In a free and fair bidding process, these profits should have accrued to the public exchequer. Political career: Four-time MP from DMK , former Union Minister, dalit face of the party Charges: Criminal breach of trust by a public servant section , criminal conspiracy Section B , cheating Section and forgery Sections and ; booked under the Prevention of Corruption Act for accepting illegal gratification.
Status: Arrested and on bail. Position: Telecom Secretary when the licenses were granted and A Raja's close aide Charges: Criminal breach of trust by a public servant Section , criminal conspiracy Section B , cheating Section and forgery Sections and ; booked under the Prevention of Corruption Act for accepting illegal gratification. Charges: Criminal conspiracy to cause criminal breach of trust by a public servant, criminal conspiracy Section B , cheating Section and forgery Sections and ; booked under the Prevention of Corruption Act[28].
PM writes to Raja to ensure fair licence allocation and proper revision of fee. Raja writes to PM allegedly rejecting many of his recommendations.
0コメント