The big fish are still not in the net. CBI’s probe into the 2G spectrum scam so far has managed to get close only to Swan Telecom. The other important players, including many corporate top guns, have escaped scrutiny.
Promoters include: C Sivasankaran Group
Allegation: Sold off 49% stake to Bahrain Telecom to make profit. Funded Kalaignar TV, owned by DMK functionaries, Rs. 100 crore.
Tata Teleservices / Tata Docomo
Promoters include: Tata Group
Allegation: Promoters sold 26% equity stake to a foreign entity - Docomo - at more than Rs. 10,000 crore. Made huge profits from new telecom licenses.
Loop Telecom Pvt Ltd
Promoters include: Ravi Ruia, Shashi Ruia, Prashant Ruia
Allegation: Front company of Essar telecom, which owns 33% stake in Vodafone Essar Telecom Limited. Violated cross-holding regulations.
Promoters include: Sanjay Chandra
Allegation: Benefited from advancement of cut-off date from October 1, 2007 to September 25, 2007. Availed licenses for 22 circles across India for Rs. 1,658 crore. Offloaded 60% of its stake to Norwegian firm Telenor even before roll-off, making a profit of 267%.
Idea Cellular / Spice Telecom
Promoters include: BK Modi, Kumarmangalam Birla
Allegation: Modi sold Spice Telecom to Idea Cellular at a valuation of more than Rs. 5,000 crore and en-cashed huge profits from the new telecom licenses.
Datacom Solutions Pvt Ltd
Promoters include: Mahendra Nahata, Venugopal Dhoot
Allegation: Misrepresentation of minimum net worth with fraudulent inclusion of the net worth of Oswal Group. Initially owned by Mahendra Nahata (HFCL Group) and Venugopal Dhoot (Videocon Group). Nahata exited Datacom later with huge profits from the new licenses.
Bharti Airtel, Vodafone Essar, Idea Celluar
Allegation: Illegal sale of spectrum to existing GSM operators without any auction or additional fees between 2001
and 2007. Connivance of DoT officials suspected.