The big 2G scam: SC hearing begins today
Posted on: 10:45 AM IST Oct 08, 2010
New Delhi: The 2G spectrum case will be coming up before the Supreme Court on Friday. The CBI's affidavit will be opened and the government's final stand on the issue is likely to be made clear.
The scam estimated relates to the allocation of a 122 licenses with spectrum in 2001 at throwaway prices causing the exchequer a loss of approximately Rs 70,000 crore.
DoT had awarded 122 Universal Access Service (UAS) licences with spectrum on first-come-first-serve basis at the rate of Rs 1,658.57 crore at a price discovered in the auction of spectrum in 2001.
By 2008, though the value of spectrum had multiplied manifold, the government got a total of Rs 9,014 crore as licence fee from the 122 licensees, causing a loss of Rs 70,000 crore to the exchequer.