2G Scam & manupilation of Scripts

8/3/2019 2G Scam & manupilation of Scripts

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WHAT'S 2G SCAM?(how did it involve, how was it revealed by

Subramaniam Swamy)

INTRODUCTION TO 2G SCAM

In the year 2008, the Telecom Ministry under Mr.A.Raja issued122 Licenses of the 2 G Spectrum to 85 companies includingmany new Telecom Companies with little or no experience in

the telecom sector, at a price set in the year 2001 as there wasa 20 times increase in the demand of telecom related services.

The estimated loss is subject to confirmation by experts, as thefigures given in the Audit Report are only on assumed values.

The loss is said to be around Rs 60 000 crores.


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Flaws in the manupilated procedure

The Process of allocation of the 2-G-Spectrum Licenses did not reflect thecorrect values,

And there was no proper auction andThe entire process of allocation was

flawed

And benefiting selected companies.

Out of 122 Licenses issued 85 hadbeen given to ineligible andinexperienced companies and


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Companies ineligible for the 2G-Spectrum Licenses:-

Loop Telecom,

Videocon Telecommunications,

S Tel Ltd. Swan Telecom, which has since been

partly acquired by the UAE's Etisalat ,

was given licences even though aunit of No. 2 telecoms firm RelianceCommunications held over 10% of

equity, a violation of rules.


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Subramaniam Swamy

Dr.Subramania Swamy had filed a petition in the SupremeCourt of India seeking permission to sue the then Telecom

Minister Mr.A.Raja in the 2G-Scam.

Mr.Raja was asked about his conversations with Mrs.NiiraRadia, a Corporate Lobbyist and he was questioned about thepre-poning the cut-off date by one week for the Spectrum

Application in the year 2007.
http://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Rajya_Sabha


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Names involved

Politicians, Ministers and Parliamentarians involved

Andimuthu Raja, Union Cabinet Minister forCommunications and Information Technology.M. K. Kanimozhi, Member of RajyaSabha .Bureaucrats involvedSiddharthaBehura, Civil Servant(IAS officer of 1973 batch UP cadre) :He was the Telecom secretary who served in theDOT at the time of the 2G allocation.PradipBaijal, Civil Servant

(IAS officer of 1966 batch MP cadre) : He is alleged to haverecommended policies that favored certain Telecom companieswhen he was heading the TRAIR KChandolia, Civil Servant (IES officer of 1984 batchcadre) : He was private secretary of Raja during UPA-I whenthe licences were awarded.
http://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Minister_of_Communications_and_Information_Technology_(India)http://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Minister_of_Communications_and_Information_Technology_(India)http://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/w/index.php?title=Siddhartha_Behura&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Siddhartha_Behura&action=edit&redlink=1http://en.wikipedia.org/wiki/Civil_Services_of_Indiahttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Civil_Services_of_Indiahttp://en.wikipedia.org/wiki/Indian_Administrative_Servicehttp://en.wikipedia.org/w/index.php?title=R_K_Chandolia&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=R_K_Chandolia&action=edit&redlink=1http://en.wikipedia.org/wiki/Civil_Services_of_Indiahttp://en.wikipedia.org/wiki/Indian_Economic_Servicehttp://en.wikipedia.org/wiki/Indian_Economic_Servicehttp://en.wikipedia.org/wiki/Civil_Services_of_Indiahttp://en.wikipedia.org/w/index.php?title=R_K_Chandolia&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=R_K_Chandolia&action=edit&redlink=1http://en.wikipedia.org/wiki/Indian_Administrative_Servicehttp://en.wikipedia.org/wiki/Civil_Services_of_Indiahttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Pradip_Baijalhttp://en.wikipedia.org/wiki/Indian_Administrative_Servicehttp://en.wikipedia.org/wiki/Civil_Services_of_Indiahttp://en.wikipedia.org/w/index.php?title=Siddhartha_Behura&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Siddhartha_Behura&action=edit&redlink=1http://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/Rajya_Sabhahttp://en.wikipedia.org/wiki/M._K._Kanimozhihttp://en.wikipedia.org/wiki/M._K._Kanimozhihttp://en.wikipedia.org/wiki/Minister_of_Communications_and_Information_Technology_(India)http://en.wikipedia.org/wiki/Minister_of_Communications_and_Information_Technology_(India)http://en.wikipedia.org/wiki/A._Rajahttp://en.wikipedia.org/wiki/A._Rajahttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/MTS_India


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Corporations involvedAircelLoop MobileSistema ShyamMobile (MTS) SistemaMobile Russia

Reliance CommunicationsSwan Telecom

Tata Tele ServicesUnitech GroupVideocon Telecommunications LimitedVodafone EssarVirgin Mobile IndiaAirtelCorporate personalities involvedAnil Ambani - Reliance Group (ADAG)[15] -Ratan Tata

Shahid Balwa - Swan Telecom (now EtisalatDB)Vinod Goenka - Swan Telecom (now EtisalatDB)VenugopalDhoot - Videocon Group
http://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Reliancehttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Loop_Mobilehttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Reliance_Communicationshttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/w/index.php?title=Tata_Tele_Services&action=edit&redlink=1http://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Videocon_Telecommunications_Limitedhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Vodafone_Essarhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Virgin_Mobile_Indiahttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Reliancehttp://en.wikipedia.org/wiki/2G_spectrum_scamhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Videoconhttp://en.wikipedia.org/wiki/Videoconhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Ratan_Tatahttp://en.wikipedia.org/wiki/Ratan_Tatahttp://en.wikipedia.org/wiki/2G_spectrum_scamhttp://en.wikipedia.org/wiki/Reliancehttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Airtelhttp://en.wikipedia.org/wiki/Virgin_Mobile_Indiahttp://en.wikipedia.org/wiki/Vodafone_Essarhttp://en.wikipedia.org/wiki/Vodafone_Essarhttp://en.wikipedia.org/wiki/Videocon_Telecommunications_Limitedhttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/w/index.php?title=Tata_Tele_Services&action=edit&redlink=1http://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Reliance_Communicationshttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/MTS_Indiahttp://en.wikipedia.org/wiki/Loop_Mobilehttp://en.wikipedia.org/wiki/Loop_Mobilehttp://en.wikipedia.org/wiki/Aircelhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Shahid_Balwa


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Corporate personalities involved

Anil Ambani - Reliance Group (ADAG)[15] -

Ratan Tata

Shahid Balwa - Swan Telecom (now EtisalatDB)

Vinod Goenka - Swan Telecom (now EtisalatDB)

VenugopalDhoot - Videocon Group

Prashant Ruia - Essar Group

Sanjay Chandra, Managing Director ofUnitechLtd andUnitechWirelessAll of them have either been questioned by the CBI or areprospective suspects in the scam.
http://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Reliancehttp://en.wikipedia.org/wiki/2G_spectrum_scamhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Videoconhttp://en.wikipedia.org/wiki/Essarhttp://en.wikipedia.org/wiki/Sanjay_Chandrahttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/wiki/Uninorhttp://en.wikipedia.org/wiki/Uninorhttp://en.wikipedia.org/wiki/CBIhttp://en.wikipedia.org/wiki/CBIhttp://en.wikipedia.org/wiki/Uninorhttp://en.wikipedia.org/wiki/Uninorhttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/wiki/Unitech_Grouphttp://en.wikipedia.org/wiki/Sanjay_Chandrahttp://en.wikipedia.org/wiki/Essarhttp://en.wikipedia.org/wiki/Videoconhttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Venugopal_Dhoothttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Vinod_Goenkahttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Emirates_Telecommunications_Corporationhttp://en.wikipedia.org/wiki/Swan_Telecomhttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Shahid_Balwahttp://en.wikipedia.org/wiki/Ratan_Tatahttp://en.wikipedia.org/wiki/Ratan_Tatahttp://en.wikipedia.org/wiki/2G_spectrum_scamhttp://en.wikipedia.org/wiki/Reliancehttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Anil_Ambanihttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Barkha_Dutthttp://en.wikipedia.org/wiki/Nira_Radia


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Media persons and lobbyists involved

Nira Radia, a former airline entrepreneur turned

corporate lobbyist whose conversations withpoliticians and corporate entities were recordedby the government authorities

Barkha Dutt, a journalist who works with NDTV

P. Chidambaram,current Union Cabinet Minister for Home Affairs :SubramaniamSwamy states that when the 2GSpectrum rate was finalised, P.Chidambaramwas the finance minister of India
http://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/NDTVhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/P._Chidambaramhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/Subramaniam_Swamyhttp://en.wikipedia.org/wiki/P._Chidambaramhttp://en.wikipedia.org/wiki/NDTVhttp://en.wikipedia.org/wiki/Barkha_Dutthttp://en.wikipedia.org/wiki/Barkha_Dutthttp://en.wikipedia.org/wiki/Barkha_Dutthttp://en.wikipedia.org/wiki/Nira_Radiahttp://en.wikipedia.org/wiki/Nira_Radiahttp://en.wikipedia.org/wiki/Nira_Radiahttp://en.wikipedia.org/wiki/Kapil_Sibal


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Response to scam

In early November 2010 Telecom Minister A Raja resigned.

In mid november,issued show-cause notices to Unitech, S Tel,LoopMobile, Datacom (Videocon), and Etisalat.

Some media sources have speculated that these companies willreceive large fines but not have their licenses revoked, as theyare currently providing some consumer service.

The Govt of India has replaced the then incumbent Telecomminister, A. Raja with Kapil Sibal who has taken up this chargein addition to being the Union minister for Human ResourcesDevelopment.

The CBI conducted raids
http://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/CBIhttp://en.wikipedia.org/wiki/CBIhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/Kapil_Sibalhttp://en.wikipedia.org/wiki/A._Raja


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Manipulation Of Scrips

qMeaning:

Manipulation - buying or selling a security for the purpose ofcreating a false appearance of active trading.

Or buying or selling the security for the purpose of raising ordepressing the price in order to induce others to buy or sell it.

When someone tries to influence the price of a company'sshares in an illegal or unfair way for their own advantage.


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Stock Manipulation-

KETAN PAREKH


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Stock Manipulation-KETAN PAREKH

Ketan Parekh can best be described as the Pied Piper of Dalal

Street.

Ketan Parekh is a former stock broker from Mumbai, India,who was convicted in 2008, for involvement in the Indianstock market manipulation scam in late 1999-2001. Currently

he has been debarred from trading in the Indian stockexchanges till 2017.

Parekh, which he used to rig up stock prices by making hisinterest apparent. In no time, scrips like Visualsoft rose fromRs 625 to Rs 8,448 per share and Sonata Software from Rs 90

to Rs 2,150.

As SEBI investigated, it was evident that bank and promoterfunds were used to rig the markets. Parekh was arrested.

Badla was banned and operators could not carry forwardtrade in its primitive form.
http://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Mumbai


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THE K-10 STOCKS:

AMITABH BACHCHAN CORPORATION LTD. (ABCL)

MUKTA ARTSTIPSPRITISH NANDY COMMUNICATIONSHFCLGLOBAL TELESYSYTEMS

ZEE TELEFILMSCREST COMMUNICATIONSPENTAMEDIA GRAPHICS

Documents

2G Scam & manupilation of Scripts