CBI raid DOT offices for irregularities in awarding 2G spectrum licenses resulting in revenue loss of more than Rs 20,000 crore

CBI raid DOT offices after CVC has charged the telecom ministry of irregularities in awarding the 2G spectrum licenses loss of revenue to the government. Sanchar Bhawan was under raid for the department allocation of 2G spectrum to some of the new players at throw away prices without any bid but adopted on first come- first serve basis.

TRAI,the telecom regulator,persistent consternation that the contracts were awarded without their advice but the Minister says he did so on the patterns followed by the TRAI and tried to keep the cost of telecom services ultimately easy reach of for consumers

2G spectrum to new players in total to eight new telecom Inc licenses given along with pack 4.4 MHz spectrum to start mobile services without proper tender or offer.CBI to examine charges of irregularities in the process.When the new entrants who had no assets of telecom but has only the licences in this sector sold part of their stake at huge premium within days of getting the licences,the scam came to light, the Spectrum allotment issue alleged to a revenue loss of more than Rs 20,000 crore to 60,000 crore to the public exchequer.

CPI(M) asked the Prime Minister Manmohan Singh to take measures to ensure accountability in the controversial spectrum allotment issue in the wake of CBI searches the DOT officces, telecom minister A Raja, who has ruled out resignation.Opposition is making calls for telecom minister to immediately resign.

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