Wednesday, February 29, 2012

2G Scam

Currently the Supreme court has cancelled 2G licenses. Then we heard that IDFC will continue support of even parties which got their licenses cancelled. Support to what extent is a question no doubt. But why support? Are you the only source of finance available? Morally, IDFC chairman has to resign. But in India everyone changes stand with time. If questioned by CBI IDFC chairman will say support for non 2G related activities.
Foreign companies have no concern with Indian government working. They followed rules that was there. Now SingTel is threatening the government to return back money. Sistema is more diplomatic and says the investment is subject to Indo-Russia treaties. Hence not much threat from Systema.
Today the government is asking the Supreme court to reconsider the judgement on cancellation of 2G spectrum. Why so much of delay? Probably time wasting tactics. Pass the buck back to Supreme court. Supreme court will blame government. Then on the other side IDFC will support "non-related" activities of cancelled 2G companies.
The government keeps the ball rolling from one side to another like a hockey match heading for a tie.

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