RBI governor D. Subbarao deposes in court in 2G case

Subbarao says he had questioned in 2007 the spectrum fee of around Rs.1,600 crore for pan-India licence
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First Published: Mon, Nov 19 2012. 12 52 PM IST
D. Subbarao, who was the finance secretary from April 2007 to September 2008, is a key witness in the case in which former telecom minister A. Raja and others are facing trial. Photo: Abhijit Bhatlekar/Mint
D. Subbarao, who was the finance secretary from April 2007 to September 2008, is a key witness in the case in which former telecom minister A. Raja and others are facing trial. Photo: Abhijit Bhatlekar/Mint
New Delhi: Reserve Bank of India (RBI) governor D. Subbarao on Monday deposed in a Delhi court as a prosecution witness in the second-generation (2G) spectrum case, saying he had questioned in 2007 the spectrum fee of around Rs.1,600 crore for pan-India licence.
Subbarao, who was the finance secretary from April 2007 to September 2008, is a key witness in the case in which former telecom minister A. Raja and others are facing trial.
During the recording of his statement, Subbarao told the court he had written a letter on 22 November 2007 to the then telecom secretary D.S. Mathur in which he had questioned the spectrum fee of around Rs.1,600 crore for pan-India licence. “I also questioned how the rate of Rs.1,600 crore, determined in as far as back in 2001, could be applied for licences given in 2007...,” he told special Central Bureau of Investigation (CBI) judge O.P. Saini.
CBI prosecutor A.K. Singh also showed files and notes of various departments concerned, including that of department of telecom and ministry of finance, to Subbarao during the recording of his statement, which is likely to continue throughout the day.
Till 11 November, the court had recorded statements of 77 CBI witnesses in the case in which Raja is the key accused. Besides Raja, Dravida Munnetra Kazhagam MP Kanimozhi, former telecom secretary Siddharth Behura, Raja’s erstwhile private secretary R.K. Chandolia, Swan Telecom promoters Shahid Usman Balwa and Vinod Goenka, Unitech Ltd MD Sanjay Chandra, three top executives of Reliance Anil Dhirubhai Ambani Group—Gautam Doshi, Surendra Pipara and Hari Nair—are facing trial in the case. Directors of Kusegaon Fruits and Vegetables Pvt. Ltd Asif Balwa and Rajiv Agarwal, Kalaignar TV director Sharad Kumar and Bollywood producer Karim Morani are also accused in the case.
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First Published: Mon, Nov 19 2012. 12 52 PM IST
More Topics: 2G | spectrum | D. Subbarao | RBI | licence fee |
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