Seven Years Dedicated To 2G Case Went In Vain, Says OP Saini
2G Case Judge Om Prakash Saini today said that despite having "religiously" dedicated seven years to the 2G case, the court was not presented with "legally admissible evidence".
"I may also add that for the last about seven years, on all working days, summer vacation included, I religiously sat in the open Court from 10 a.m. to 5 p.m., awaiting for someone with some legally admissible evidence in his possession, but all in vain," Saini said in his 1,552 page verdict.
Necessary Steps Will Be Taken, Says CBI
The Central Bureau of Investigation said that necessary legal remedies will be taken regarding the 2G spectrum verdict made today, PTI reported.
Court has not appreciated evidence in 2G spectrum case in proper perspective.
Government Lost Revenue Due To Wrong Allocation Policy, Says Telecom Minister
Telecom Minister Manoj Sinha said the government had lost revenue due to the UPA government's spectrum allocation policy and that Congress is interpreting the verdict wrong.
There Was No Wrongdoing: Unitech
Within hours of acquittal in the 2G spectrum allocation case by a special court, Unitech Ltd. Managing Director Sanjay Chandra said there was no wrong doing on his part but his company had to pay the price for the case foisted on him.
"There was no wrong doing on my part or on the part of my companies," Chandra said in a statement.
However, the damage suffered by me and the companies continues to affect the health and financial status of my company and they continue to pay the price for this case having been foisted on us fraudulently and without any basis.
Sanjay Chandra, MD, Unitech
Anil Ambani-led Reliance Group also welcomed the court verdict.
The Unitech stock surged as much as 20.4 percent to Rs 8.5, before cooling to Rs 7.9. Reliance Communications stock rose as much as 13.3 percent to Rs 19.6.
(With inputs from PTI)
2G Trial Court Judgement On ED's Case Vs 19 Accused
Since there are no "proceeds of crime", there is no need to discuss other issues based on evidence led by the parties, 2G Special Trial Court said in Enforcement Directorate's case.
“Proceeds of crime” is the foundational fact for the offence of money -laundering. Since there are no “proceeds of crime”, there can be no offence of money -laundering, as nothing remains to be laundered. Thus, the very base of the instant case is gone and the alleged offence stands wiped out.
Since there are no “proceeds of crime”, in my humble opinion, there is no need to discuss other issues based on evidence led by the parties, as that would amount to an exercise, not only in speculation but also in futility, as the very basic fact required for constitution of an offence of money -laundering, that is, “proceeds of crime”, is knocked out. Accordingly, all accused are entitled to be acquitted and are acquitted.
UPA's Allocation Policy Was Designed To Promote Corruption, Says Jaitley
Some parties are treating the 2G order as badge of honor. UPA’s allocation policy was designed to promote corruption, said Finance Minister and BJP Leader Arun Jaitley. He added that he was sure investigating agencies will “look closely” at the issue.
2G Trial Court Judgement On Ruias
Here's the operative part of the Special 2G Court's judgement pertaining to the Essar group promoters.
There is no material on record to show that the applications for 21 UAS licences were filed at the instance of Sh. Vikash Saraf. There is also no evidence that in the filing of applications Sh. Ravi Kant Ruia, Sh. Anshuman Ruia or Ms. Kiran Khaitan were involved. The evidence is to the effect that the applications were filed at the instance of Sh. IP Khaitan, which version matches with the record. Thus, there is no evidence indicating any deception of DoT by any of the accused....
In view of the above detailed discussion, prosecution has not been successful in proving any of the ingredients either of the offence of conspiracy to cheat DoT or of the substantive offence of cheating. Accordingly, I have absolutely no hesitation in holding that prosecution has miserably failed to prove any charge against any of the accused. Consequently, all accused are entitled to be acquitted and are accordingly acquitted.
Judgement Has To Be Respected, Says Manmohan Singh
2G Trial Court Judgement On A Raja
Here's the operative part of the Special 2G Court's judgement pertaining to former telecom minister.
There is no material on record to show that Shri A Raja was mother lode of conspiracy in the instant case. There is also no evidence of his no holds barred immersion in any wrongdoing, conspiracy or corruption...
The end result of the above discussion is that, I have absolutely no hesitation in holding that the prosecution has miserably failed to prove any charge against any of the accused, made in its well choreographed charge sheet.
Telecom Sector Is In Dire Straits Because Of Vinod Rai & BJP, Says Kapil Sibal
Sibal faulted the Bharatiya Janata Party and Vinod Rai for the dire starit of the telecom sector's non performing assets. All the licences allotted during Raja’s tenure were cancelled by the Supreme Court in 2012 based on the report by Rai and the CBI. "It is unfortunate that the country had to go through this," Sibal said.
Government Must Appeal In High Court, Says Subramanian Swamy
Vinod Rai Must Apologise, Says Manish Tewari
Congress Leader Manish Tiwari said that Vinod Rai must apologise to the nation for throwing presumptive and sensational numbers into public discourse.
He was the author of the Rs 1.76 lakh crore loss theory that I had destroyed during my cross examination of Rai in Joint Parliamentary Committee. Court has affirmed the JPC Report.
Manish Tewari, Congress Leader
UPA Government Vindicated, Says Kapil Sibal
The UPA government’s position has been “vindicated”, said Congress leader Kapil Sibal who took to the helm of the Telecom Ministry after the accused minister A Raja resigned from his position in 2010. The alleged scam was made up by Vinod Rai, Sibal said. Rai was then the Auditor General of India who had estimated the notional loss at Rs 1.76 lakh crore.
My position and the Prime Minister’s position stand vindicated. It was a scam by Vinod Rai. Vinod Rai’s presumptive loss theory has been proved wrong.
Kapil Sibal, Congress Leader
A Raja After Being Exonerated
Unitech, DB Realty, RCom Surge As Court Acquits All In 2G Scam
Shares of the companies whose managements were accused in 2G Spectrum Scam rose in an otherwise subdued session after a special CBI court acquitted all accused in the 2G Spectrum Scam.
- Unitech up 15 percent to Rs 8.17
- Reliance Communications gains 4.2 percent to Rs 17.99
- DB Realty surges 20 percent to Rs 43.70
Allegations Were Never True, Says Chidambaram
Loop Telecom, Essar Group Promoters Acquitted
The court has also acquitted Loop Telecom promoters IP Khaitan and Kiran Khaitan and four others in the case arising out of 2G scam probe. It also freed Essar Group promoters Ravi Kant Ruia and Anshuman Ruia of the charges in the case arising out of 2G scam probe, PTI reported.
With this, all 19 of the accused in the Enforcement Directorate's money laundering case have been exonerated.
Kanimozhi To BQ
“Justice has been delivered,” Kanimozhi said to BloombergQuint after the announcement of the verdict.
All Accused In Main Case Acquitted
All of the accused, including former Telecom Minister A Raja and daughter of DMK leader M Karunanidhi - Kanimozhi, and the three companies have been acquitted of all charges by the Special CBI Court.
The court said that the prosecution failed “miserably” to prove any of the charges.
I have absolutely no hesitation in holding that prosecution has miserably failed to prove any charge against any accused
Om Prakash Saini, CBI Special Court Judge
The judgement on charges against Ravi Ruia and Anshuman Ruia from Essar Teleholdings and Kiran Khaitan and IP Khaitan from Loop Telecoms remains pending. They were accused of criminal conspiracy and cheating the Department of telecommunications.
Kanimozhi, A Raja Arrive At Patiala House Court
- Kanimozhi, daughter of DMK leader M Karunanidhi, faces allegations about her ties to Kalaignar TV, which allegedly was a beneficiary of bribes in return of the 2G licenses granted to Swan Telecom Pvt. Ltd.
- Shahid Balwa and Vinod Goenka of DB Realty Ltd. and promoters of Swan Telecom
- Ravi Ruia and Anshuman Ruia from Essar Teleholdings and Kiran Khaitan and IP Khaitan from Loop Telecoms were accused of criminal conspiracy and cheating the Department of Telecommunications.
- Unitech Wireless Ltd. and its former head Sanjay Chandra—managing director of real estate company Unitech Ltd. The telecom unit acquired the spectrum and then tied up with Norway’s Telenor for a telecom joint venture.
- Raja’s former private Secretary RK Chandolia.
- Former Telecom Secretary Siddartha Behrua.
- Sharad Kumar, managing director at Kalaignar TV.
- Asif Balwa and Rajeev Agarwal, both directors at Kusegaon Fruits and Vegetables Pvt. Ltd, a company accused of routing bribes to Balwa’s company.
In 2008, airwaves were allocated to mobile services providers on a first-come-first-served basis. Raja, the then telecom minister, is accused of taking bribes to arbitrarily change norms several times to benefit select individuals and companies, overruling the advice of the regulator and the Prime Minister’s Office, according to the CBI’s chargesheet. He allegedly changed the cut-off date to apply for a licence and handed out spectrum at an entry fee charged in 2001.
The CBI pegged the loss to the exchequer at Rs 30,984 crore—the Comptroller and Auditor General had estimated the notional loss at Rs 1.76 lakh crore.
All the licences allotted during Raja’s tenure were ultimately cancelled by the Supreme Court in 2012. Raja was charged with cheating, forgery, criminal conspiracy and other provisions of the Indian Penal Code and the Prevention of Corruption Act. He resigned as telecom minister in November 2010 and was sent to jail in Feb. 2011 and released on bail 15 months later.
2G Scam Verdict Awaited
A Delhi court will decide the fate of several politicians, businessmen and top executives today as it pronounces its judgement in the 2G spectrum allocation scam unearthed during the term of the previous United Progressive Alliance government.
Special CBI Court Judge Om Prakash Saini will rule on what the Time magazine dubbed the biggest abuse of executive power after the Watergate scandal involving former U.S. president Richard Nixon who spied on the Democrats in his re-election bid in 1972.