While the Media attention is focused on Raja and co for the scam, the beneficiaries,especially Reliance Industries seems to go unnoticed(?) by the Media.
Seems that media is being selective and the Government and the Opposition have selective amnesia.
You can not bite the hand that feeds.
Story:
DoT issued UASL licenses to Datacom (now renamed as Videocon Telecommunications) to roll out pan – India telecom services, along with free spectrum of 4.4 mega hertz. It was clear that Datacom never had requisite resources to roll out its services on its own. It has therefore concocted a unique way to deceive the Government.
On paper and publicly, Datacom Solutions was always disclosed to be a joint venture between Videocon Group owned by Dhoots and HFCL Group owned by Mr. Nahata and Maloo.
A. Datacom availed illegal benefits aggregating Rs. 17,600 Crores-undue favours by DoT
- Background – Order of the Hon’ble Supreme Court
The Hon’ble Supreme Court of India, vide its order dated 10lh February, 2011 allowed time upto 1st March, 2011, for CBI to submit as to what action has been taken against the beneficiaries of alleged telecom sector irregularities, who prima facie appear to have conspired for causing loss to public revenue. - Datacom was issued telecom licenses at the price of 2001
Datacom, now called Videacon Communications, was issued 21 UAS Licenses.CAG report dated 8th November, 2010 observed that the aggregate loss caused to the national exchequer by issue of 122 new UAS Licenses in 2008 at 2001 price was Rs, 1,02,498 crore.(Refer Para No. 4.7 page No. 37-42 of CAG Report dated 8th November, 2010)
As per CAG calculations, the loss to public exchequer on account of issue of licenses and allotment of spectrum attributable to Datacom is over Rs. 17,600 crore…..
A. Datacom availed illegal benefits aggregating Rs. 17,600 Crores-undue favours by DoT
- Background – Order of the Hon’ble Supreme Court
The Hon’ble Supreme Court of India, vide its order dated 10lh February, 2011 allowed time upto 1st March, 2011, for CBI to submit as to what action has been taken against the beneficiaries of alleged telecom sector irregularities, who prima facie appear to have conspired for causing loss to public revenue. - Datacom was issued telecom licenses at the price of 2001
Datacom, now called Videacon Communications, was issued 21 UAS Licenses.CAG report dated 8th November, 2010 observed that the aggregate loss caused to the national exchequer by issue of 122 new UAS Licenses in 2008 at 2001 price was Rs, 1,02,498 crore.(Refer Para No. 4.7 page No. 37-42 of CAG Report dated 8th November, 2010)
As per CAG calculations, the loss to public exchequer on account of issue of licenses and allotment of spectrum attributable to Datacom is over Rs. 17,600 crore.
B. Oswal Agro Group, which was not part of the initial application, was made 10% equity holder – which contributed over 92% of the net worth
Datacom per-se did not have the requisite net worth to meet the eligibility criteria and was ineligible for issuance of UASL. However, after making the application for the license, Datacom issued 10% equity to Oswal Fertilizers & Chemicals Limited of Oswal Agro Group.
The shareholding pattern submitted by Datacom to DoT was as under (Refer Annexure 1):
Name of Promoter Equity % Networth of Promoter
(Rs. in cr)% of total networth Jumbo Techno Services Private Ltd. 89.99% 135 7.80% Oswal Fertilizers & Chemicals Limited 10.00% 1590 92.20% Other individual Shareholders 0.01 … — Total 100.00 1725 100.00 ….
It is shocking that the shareholding of Oswal Fertilizers & Chemicals Limited was only 10% but its networth used for the purpose of meeting eligibility criteria was 92.2%…
http://www.2gscam.co.in/beneficiaries-of-undue-favors-by-dot-datacom.asp
Related:
An ICICI Bank manager has indicated a possible link between ADAG Group chief Anil Ambani and Swan Telecom in the 2G scam case.
http://ramanisblog.in/2011/04/23/icici-implicates-reliance-in-2g-scam/
- Background – Order of the Hon’ble Supreme Court
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