It is a scam done by the many politicians in Indiaand the Govt. officials of IndiaThe Union Govt. of Inida at that time has beenaccused for undercharging many of the telephone companies and also for misusingthe allocation of the frequency licenses for the 2G spectrum subscriptionsGovt. of India has chosen Rothschild & sons (India)pvt.
Ltd for designing the E-auction mechanism which was new to the world andfirst of its kind at that time and this deal costs 2.27bnUS$. But the money which has beencollected and that mandated to be collected was completely different and it wasestimated by both the comp-troller and the Auditor General of India was around ?1.76 trillion(US$27 billion), based on the 2010 3G and BWA spectrum-auction prices.On 10 Jan, 2008,companies are having only a few hours to supply LOI and payments and Raja hasalready tipped off the many executives. Both the executives who have taken thetip and minister who has given the tip were imprisoned.
On 2ndApr, 2011, A charge sheet has been filed by the CBI and states that the losswas around US$4.8bn and soon after that TRAI was sent a reply to the CBI on19Aug,2011 stating that the Govt. soldof 2G spectrum illegally and they wouldhave gained US$470 million over thisOn 2ndFeb, 2012, A Public Interest litigation related to the 2G spectrum was ruledout by the Supreme Court of India and it is also declared that allotment hasbeen made based on the unconstitutional and for the purpose of personal gain. SupremeCourt of India also announced that it has cancelled 122 licenses which areissued in the year 2008 under A raja.
According to the Raja ” He have given many gifts tovarious companies for the cost of public exchequer and also “Virtually gifted manyimportant national assets”According to someanalysts all these kind of scams including 2010 common wealth games scam,Adarsh society scam, Coal mining etc led to massive defeat of UPA Govt. in theyear 2014 Lokshaba elections