Declaring the allocation of 2G spectrum by the Congress-led United Progressive Alliance (UPA) government “illegal” and an example of the arbitrary exercise of power, the Supreme Court on Thursday cancelled all 122 telecom licences allotted on or after January 10, 2008 to 11 companies during the tenure of the former telecom minister, A. Raja.
http://www.thehindu.com/news/national/article2853159.ece
Mr Raja is charged with corruption.
This ruling, although deemed to be a step in the right direction, makes foreign investors nervous as it means any past deals, if proven to be corrupt, could be overturned, several years later.
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