The Supreme Court of India issued a stinging rebuke to the government on Thursday by canceling 122 telecommunications licenses sold at below-market prices in 2008 that have been the subject of a long-running controversy.
The move comes after several years of litigation in what has popularly become known as the “2G scam” in India. The controversy, which involved the awarding of wireless phone licenses at a predetermined price set almost a decade earlier, became the rallying cry for a large anti-corruption movement that dominated the public debate in the country last year.
To read this New York Times report in full, see: www.nytimes.com/2012/02/03/business/global/india-supreme-court-cancels-2g-licenses.html
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India court orders licences cancelled in telecom scandal India’s Supreme Court ordered on Thursday telecoms licences issued under a scandal-tainted 2008 sale be revoked, striking a decisive blow against corruption that plagues the country and roiling the world’s second biggest cellular market.
The ruling applies to 122 licences held by eight operators but potentially affects fewer than 5 percent of users in a fiercely competitive market crowded with more than a dozen players. uk.reuters.com/article/2012/02/02/oukin-uk-india-telecoms-idUKTRE81112M20120202