×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

2G scam | CBI spared Tata Teleservices, says Raja

2G scam | CBI spared Tata Teleservices, says Raja
PTI
Comment E-mail Print Share
First Published: Mon, Jul 25 2011. 08 51 PM IST
Updated: Mon, Jul 25 2011. 08 51 PM IST
New Delhi: Former telecom minister and prime accused in 2G spectrum case, A Raja, on Monday alleged in a Delhi court that CBI spared Tata Teleservices which made Rs14,000 crore in the scam and dared the agency to touch the company’s top boss.
“Let the prosecution touch the man who has made Rs14,000 crore in this. They cannot touch him. This is my challenge (to CBI). Picking and choosing (the accused) is not permissible in law,” Raja’s counsel and senior advocate Sushil Kumar contended before special CBI judge O P Saini.
The DMK MP said nine telecom companies were issued 2G licences but CBI alleges that he conspired only with two companies -- Swan Telecom and Unitech Wireless of Sanjay Chandra -- leaving out Tata Teleservices and others.
Unitech Wireless sold 67% equity for Rs6,120 crore whereas Tata Teleservices got Rs13,973 crore by selling only 27% equity, he said, adding even then Tata Teleservices was not accused by CBI of committing any offence.
“Who is a better businessman - Sanjay Chandra of Unitech or Ratan Tata of Tata Tele Services? And then they say we kept them (Tata) out of Delhi circle,” Raja said.
He accused CBI of adopting “pick and choose” policy for making Swan Telecom and Unitech Wireless as conspirators in the entire episode.
“Nine companies have got the licences -- Unitech Wireless, S-Tel, Systema Shyam Telelinks, Swan Telecom, Datacom Services, Loop Telecom, Tata Teleservices, Spice Communication and Idea Cellular. We are dealing with only two companies (Swan Telecom and Unitech Wireless) now.
“Case of the prosecution is that each one of these companies has sold their licence and on this, the presumptive loss is at about Rs22,000 crore. Out of these nine companies, only two are before this court as accused. Why other seven companies are not there,” Kumar submitted.
Two more companies -- Videocon Telecommunication and Allianz Infratech -- were also alloted 2G licences.
He alleged Tata Teleservices made money in allocation of spectrum and made around Rs14,000 crore.
“Everyone (telecom companies) has got foreign equity induction. Tata Teleservices has got Rs14,000 crore in this. Swan Telecom has got around Rs3,600 crore, S-Tel got Rs861 crore while Sistema Shyam Telelinks got Rs211 crore.”
“Induction of equity by permissible route is not black money. CBI calls it illegal money as I did not auction the licences,” he said.
“CBI, however, is maintaining that when DB Realty gave its shares (in Swan Telecom) to bring in money, it amounted to sale and so is the case with Unitech (Wireless). But when Tata Teleservices give its shares to bring in FDI, it, according to CBI, does not amount to sale,” Raja argued.
“The sin of Swan Telecom and Unitech Wireless is that they have good contacts abroad and they managed to get money from there and thus they are here in jail. How can you (CBI) build a case if they will let off Tata Teleservices or say S-Tel and others?,” he said.
Comment E-mail Print Share
First Published: Mon, Jul 25 2011. 08 51 PM IST