India’s Supreme Court invalidated 122 licenses issued to telecom operators for 2G spectrum after 2008 due to the charges of corruption in the ongoing scandal. A new auction for these quashed 2G licenses will need to be held.
The ruling notes that the subjective process of 2G spectrum allocation in lieu of a public auction violated established procedures and laws, and that the government received only one-sixth of what it would have got had it gone through a fresh auction route.
“The total loss to the exchequer of giving away 2G GSM spectrum in this way – including to the CDMA operators – is over Rs.50,000 crores and is said to be one of the biggest financial scams of all times in the country.”http://http://supremecourtofindia.nic.in/http://supremecourtofindia.nic.in/outtoday/39027.pdf
