2G verdict: SC cancels 122 licenses issued after Jan 2008

The verdict on the multi-crore scam is out. The Supreme Court has cancelled all the 122 licenses issued on or post January 2008. According to the verdict, telecom regulator TRAI will make fresh recommendations on the grant of licenses.

The government will take decision on licenses one month post TRAI recommendation. Out of the 122 licenses, 21 belongs to Videocon, Uninor holds 22, Idea 9, Tata Teleservices 3, Swan Telecom 13 and Loop 21.

Meanwhile, SC has dismissed petition to probe Chidambaram's role in the 2G scam.

The licences, which were allotted by former telecom minister A Raja, will be cancelled in four months from now and the Telecom Regulatory Authority of India (TRAI) must go in for a fresh issue of licences during this period, the apex court observed.

A penalty of Rs 5 crore has been imposed on Unitech Wireless Ltd (Uninor), Swan Telecom and Tata Telecom. A penalty of Rs 50 lakh has also been imposed on Loop, S-Tel, Allianz and Sistema Shyam.

The licences cancelled include 21 of Videocon, 22 of Unitech Wireless Ltd (Uninor), nine of Idea, 21 of Loop, six of S-Tel, 21 of Sistema, three of Tata, 13 of Swan and two of Allianz.

The Supreme Court also asked the Central Bureau of Investigation (CBI) to give status report on the investigation into the 2G scam to the Central Vigilance Commission.

Raja has been accused of masterminding the multi-crore 2G scam and is presently lodged in the Tihar Jail in Delhi.

In another critical judgement, the Supreme Court referred the matter of whether the role of former finance minister P Chidambaram should be investigated back to the trial court of Justice OP Saini. This represents a breather for Chidambaram, but it does not lift the cloud over him.

The apex court also refused to direct the CBI to probe the alleged role of Chidambaram in the case and asked trial court to decide on the Home Minister within two weeks.

(With inputs from IBNlive.com)