indian court acquits all accused in 2g telecoms case
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Indian court acquits all accused in 2G telecoms case

Arab Today, arab today

Arab Today, arab today Indian court acquits all accused in 2G telecoms case

A special court convened by the federal investigator was called to give its verdict on the accused
New Delhi - Arab Today

An Indian court on Thursday acquitted a former telecoms minister, politicians and business executives of graft and money laundering charges in the grant of telecoms licenses due to lack of evidence in one of the country’s biggest corruption scandals.
The case relates to the alleged below-market-price sale of lucrative telecoms permits bundled with airwaves in 2008, which a federal auditor said may have cost the government as much as $28 billion (SR105 billion) in lost revenue.
A special court convened by the federal investigator was called to give its verdict on the accused, including former telecoms minister A. Raja.
“The prosecution has miserably failed to prove its charge,” defense lawyer Vijay Aggarwal told reporters, citing the judge’s ruling.
Shares of companies affected by the case rose after the verdict, with Reliance Communications Ltd. gaining as much as 13.3 percent, DB Realty jumping nearly 20 percent and SUN TV Networks Ltd. rising as much as 6.8 percent.
The scandal dented the fortunes of then Prime Minister Manmohan Singh and his government, which oversaw the sale of the licenses at below-market prices, and triggered street protests.
It was one of the several scandals that emerged during Singh’s second term, hobbling policymaking and diverting the government’s attention away from pushing forward crucial economic reforms.
The uncertainty hurt business sentiment in Asia’s third-biggest economy, and led to questions about the government’s efforts to crack down on corruption.
In 2012, the Supreme Court ordered 122 licenses held by eight operators to be revoked, declaring the licenses illegal and the process “wholly arbitrary, capricious and contrary to public interest.”

Source:Arabnews

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian court acquits all accused in 2g telecoms case indian court acquits all accused in 2g telecoms case

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian court acquits all accused in 2g telecoms case indian court acquits all accused in 2g telecoms case

 



GMT 09:54 2017 Monday ,13 November

Hany Ramzy prepares for new film

GMT 02:13 2017 Thursday ,31 August

RI tourism ready to compete in ASEAN community

GMT 11:38 2017 Tuesday ,14 November

Arab media development is lost in translation

GMT 07:56 2017 Tuesday ,19 December

Fatah’s leader rebukes Trump’s decision

GMT 11:26 2017 Wednesday ,26 April

Settlers uproot 300 olive trees, Ramallah

GMT 05:34 2017 Sunday ,22 October

Hamilton overshadows Vettel in final practice

GMT 16:49 2017 Tuesday ,28 March

Settlements undermine 2-state solution

GMT 05:10 2017 Monday ,02 October

A380 superjumbo makes emergency landing in Canada

GMT 07:27 2017 Sunday ,12 November

Oman receives OMR8b foreign direct investment

GMT 17:09 2017 Saturday ,05 August

Justin tells fans of "insecurities" after cancelling

GMT 02:14 2017 Sunday ,22 October

January21st-February19th
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday