{"id":7667,"date":"2010-12-08T21:09:47","date_gmt":"2010-12-08T15:39:47","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=7667"},"modified":"2010-12-08T21:09:47","modified_gmt":"2010-12-08T15:39:47","slug":"apex-court-reserves-verdict-on-monitoring-spectrum-probe","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/apex-court-reserves-verdict-on-monitoring-spectrum-probe","title":{"rendered":"Apex court reserves verdict on monitoring spectrum probe"},"content":{"rendered":"<p><a href=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2010\/12\/CBI.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"7668\" data-permalink=\"https:\/\/www.legalindia.com\/news\/apex-court-reserves-verdict-on-monitoring-spectrum-probe\/cbi\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2010\/12\/CBI.jpg?fit=240%2C199&amp;ssl=1\" data-orig-size=\"240,199\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"CBI\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2010\/12\/CBI.jpg?fit=150%2C124&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2010\/12\/CBI.jpg?fit=240%2C199&amp;ssl=1\" class=\"alignleft size-full wp-image-7668\" title=\"CBI\" src=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2010\/12\/CBI.jpg?resize=240%2C199&#038;ssl=1\" alt=\"\" width=\"240\" height=\"199\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2010\/12\/CBI.jpg?w=240&amp;ssl=1 240w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2010\/12\/CBI.jpg?resize=150%2C124&amp;ssl=1 150w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a>The Supreme Court Wednesday reserved its verdict on a petition seeking its monitoring of the Central Bureau of Investigation (CBI) probe into the 2G spectrum controversy.<\/p>\n<p>The petition was moved by the Centre for Public Interest Litigation (CPIL).<\/p>\n<p>The court also expanded the scope of CBI investigation into the 2G spectrum controversy by directing it to probe the issue of banks advancing loans to telecom operators on the hypothecation of spectrum licences.<\/p>\n<p>&#8220;If it is true then it is astonishing,&#8221; said an apex court bench of Justice G.S. Singhvi and Justice A.K. Ganguly when it was told that for a Rs.1,600 crore pan-India licence of 2G spectrum, a public sector bank gave a loan of Rs.2,500 crore.<\/p>\n<p>While observing that the 2G licences were far more valuable than the price at which they were given, the court said if it was true, then it went far beyond what the petitioner was claiming.The court was informed that the investigating agency was probing the sources of funds which different telecom companies mobilized for applying for 2G spectrum licences.<\/p>\n<p>The court was also told that the grant of loan on the hypothecation of 2G licence would be referred to the CBI&#8217;s banking securities fraud cell.The judges said that there has to be a close co-ordination between the CBI and the Enforcement Directorate (ED) to unearth the entire scandal.<\/p>\n<p>They said this after going through the ED report on its investigations into money laundering related to the spectrum allocation.During the hearing, the court described as absurd the policy of granting 2G spectrum licences in 2008 at 2001 prices.<\/p>\n<p>&#8220;This is an absurd policy,&#8221; the court said. It also said that to get to the root of the entire scam, the investigation should commence from 2001 when the existing telecom policy was put in place.&#8221;Why dont you give us petrol at 2001 prices, the court asked, criticising the policy.<\/p>\n<p>The court said that in a period of spiraling prices, the government was engaged in a commercial transaction and was not involved in charity.Slamming the Department of Telecommunications, the court said that even if it was a policy to give licences at 2001 prices, the 2G spectrum could not have gone for a song. Even a policy has to have a meaning, it said.<\/p>\n<p>The bench also noted that the existing courts which were already overburdened with work could not be further burdened to deal with cases of huge financial magnitude, including the 2G spectrum controversy, involving allegations of money laundering.<\/p>\n<p>It also said there was need for special courts to deal with special laws like the one to prevent money laundering. The court asked Solicitor General Gopal Subramanium to take instructions from the government on this count.<\/p>\n<p>Anybody who has violated the law and the economic interests of the country has to be brought to book, the court said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court Wednesday reserved its verdict on a petition seeking its monitoring of the Central Bureau of Investigation (CBI) probe into the 2G spectrum controversy. The petition was moved by the Centre for Public Interest Litigation (CPIL). The court also expanded the scope of CBI investigation into the 2G spectrum controversy by directing it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[1796,1590],"class_list":["post-7667","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-monitoring","tag-spectrum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apex court reserves verdict on monitoring spectrum probe  - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"The Supreme Court Wednesday reserved its verdict on a petition seeking its monitoring of the Central Bureau of Investigation (CBI) probe into the 2G - Get the latest legal news from the Supreme Court, High Courts, and government. 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The apex court bench of Justice G.S. Singhvi and Justice K.S. Radhakrishnan\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13497,"url":"https:\/\/www.legalindia.com\/news\/chidambaram-favoured-2g-auction-cbi-tells-supreme-court","url_meta":{"origin":7667,"position":2},"title":"Chidambaram favoured 2G auction, CBI tells Supreme court","author":"Legal India Admin","date":"September 30, 2011","format":false,"excerpt":"The CBI on Thursday strongly defended home minister P Chidambaram, saying that the finance ministry under him had consistently favoured \"auction and indexisation\" of 2G spectrum price. An apex court bench of Justice GS Singhvi and Justice AK Ganguly was told that the \"finance ministry took a consistent stand and\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/09\/CBI2.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":9455,"url":"https:\/\/www.legalindia.com\/news\/apex-court-to-hear-plea-seeking-cbi-probe-into-batchas-death","url_meta":{"origin":7667,"position":3},"title":"Apex court to hear plea seeking CBI probe into Batcha&#8217;s death","author":"Legal India Admin","date":"March 18, 2011","format":false,"excerpt":"The Supreme Court will Thursday hear an application seeking a Central Bureau of Investigation (CBI) probe into the death of Sadiq Batcha , who had been questioned by the investigating agency in the 2G spectrum scam. An apex court bench of Justices G.S. Singhvi and Asok Kumar Ganguly said it\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/03\/SUPREME-COURT-OF-iNDIA1.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13458,"url":"https:\/\/www.legalindia.com\/news\/probe-against-maran-over-cbi-tells-supreme-court","url_meta":{"origin":7667,"position":4},"title":"Probe against Maran over, CBI tells Supreme court","author":"Legal India Admin","date":"September 28, 2011","format":false,"excerpt":"The Supreme Court on Wednesday adjourned till tomorrow hearing on a petition by Janata Party chief Subramanian Swamy seeking a probe against Home Minister P Chidambaram for his role in the 2G spectrum allocation scam. \u00a0 The apex court asked for all documents pertaining to the then finance secretary Subba\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13469,"url":"https:\/\/www.legalindia.com\/news\/cbi-shielding-chidambaram-petitioner-tells-supreme-court","url_meta":{"origin":7667,"position":5},"title":"CBI shielding Chidambaram, petitioner tells  Supreme  court","author":"Legal India Admin","date":"September 29, 2011","format":false,"excerpt":"The Supreme Court was Wednesday told that the probe into the 2G scam by the Central Bureau of Investigation (CBI) was 'less than honest' as it failed to examine the role of the then finance minister and present Home Minister P. Chidambaram over the fixing of spectrum price. \u00a0 The\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/09\/Supreme-Court7.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-1ZF","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/7667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=7667"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/7667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=7667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=7667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=7667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}