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     Rajusk Side Hero Username: Rajusk Post Number: 8708 Registered: 02-2008 Posted From: 66.93.90.250 Rating: |
"Applications for telecom licences were invited setting October 1, 2007, as the deadline. An artificial cut-off date, September 25, 2007, was created and applications received between September 25 and October 1 were summarily rejected. The licences and the spectrum allocation were then allotted to nine operators at a price of Rs 1,650 crore per operator, he said. "This price," he said, "was not taken on the basis of the 2007 market value but on the basis of an auction held in 2001. "The companies were overnight valued at over $2 billion (over Rs.9,000 crore) and a large chunk of the equity was sold by at least three licencees to overseas partners at a price of Rs.6,000-7,000 crore. Obviously the Government lost over Rs 60,000 crore for the nine licences collectively along with the spectrum http://ibnlive.in.com/news/a-raja-accused-in-scam-cbi-raids- his-office/103812-37.html |
