MUNI THE BOSS

The Supreme Court will decide today on who will monitor the Central Bureau of Investigation (CBI) probe into the 2G spectrum scam case.The Bench had observed "the issue raised in the case is not limited to only Rs. 1.76 lakh crore but has a much wider compass. We would not like to prejudice the probe. But what happened in 2001 needs to be looked into. It is for the CBI to investigate and find out."


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A bench comprising justices G S Singhvi and A K Ganguly had reserved the judgement on December 8 on the petition filed by an NGO Centre for Public Interest Litigation (CPIL) after a marathon hearing on the issue. CPIL wanted the apex court to monitor the CBI probe.
The court had heard the arguments forwarded by CPIL, CBI, Enforcement Directorate(ED), Department of Telecommunication and former Telecom Minister A Raja, who resigned from the Cabinet in the wake of the scam.

While wrapping up the arguments on December 8, the court had sought to widen the ambit of CBI probe into the 2G spectrum scam to cover the period of NDA government by suggesting that the controversial first-come first-served policy introduced in 2001 be also looked into.


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The judges' remarks assume importance as A Raja has maintained that he was following the 2001 policy.

The court had also taken the opportunity to express surprise over public sector banks providing loans to the tune of Rs. 10,000 crore to the 2G spectrum licensees on the basis of hypothecation of licenses.

The CBI and the ED had submitted in a sealed cover the reports on the status of the probe. The agencies had assured the court that the investigations into the scam will be completed by March 2011. However, both of them had maintained that they will need some more time to cover the international angle involved
in the scam.


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Read more at: http://www.ndtv.com/article/india/supreme-court-verdict-on-monitoring-of-2g-spectrum-scam-probe-today-72852?cpDuring the hearing, the agencies had agreed to the monitoring of the probe by the apex court. Central Vigilance Commissioner (CVC) PJ Thomas had recused himself from supervising the CBI in the spectrum scam after the court questioned that his role itself was under scrutiny.

The FIR in the scam was registered by the CBI on October 21, 2009, against the unnamed persons under the Prevention of Corruption Act.

The ED had lodged the complaint under the Prevention of Money Laundering Act and Foreign Exchange Management Act. During the last hearing on December 8, ED had said that the status report filed by it contains details of the investigation since March 9, 2010 to November 29.

The ED had carried out the probe on the basis of the case related to the scam registered by CBI on October 21, 2009. The report details the investigation carried out till November 29, 2010. (With PTI Inputs)


Read more at: http://www.ndtv.com/article/india/supreme-court-verdict-on-monitoring-of-2g-spectrum-scam-probe-today-72852?cp.The CBI and the ED had submitted in a sealed cover the reports on the status of the probe. The agencies had assured the court that the investigations into the scam will be completed by March 2011. However, both of them had maintained that they will need some more time to cover the international angle involved
in the scam.

During the hearing, the agencies had agreed to the monitoring of the probe by the apex court. Central Vigilance Commissioner (CVC) PJ Thomas had recused himself from supervising the CBI in the spectrum scam after the court questioned that his role itself was under scrutiny.

The FIR in the scam was registered by the CBI on October 21, 2009, against the unnamed persons under the Prevention of Corruption Act.


Read more at: http://www.ndtv.com/article/india/supreme-court-verdict-on-monitoring-of-2g-spectrum-scam-probe-today-72852?cp