PC bound to come as witness in 2G case: A Raja

Last Updated: Tuesday, July 26, 2011 - 21:27

New Delhi: Former Telecom Minister A Raja
on Tuesday sought to make then Finance Minister P Chidambaram a
witness in 2G case, saying he was privy to matters relating to
dilution of equities by Swan Telecom and Unitech Wireless to
foreign firms.



"The then Finance Minister (Chidambaram) is bound to
come in the court as a witness," Raja`s counsel Sushil Kumar
said while advancing arguments on framing of charges before
Special CBI Judge O P Saini trying the 2G case.
Raja said Chidambaram and even Prime Minister Manmohan
Singh were aware of offloading of shares to foreign firms --
Dubai-based Etisalat and Norway-based Telenor -- by Swan
Telecom and Unitech, alleged beneficiaries of the scam.



"The matters relating to dilution of equities to
foreign firms by Swan Telecom and Unitech Wireless were known
to the Prime Minister and then Finance Minister Chidambaram,"
Raja said.



His counsel said Foreign Investment Promotion Board
(FIPB) approves all foreign investment.



"FIPB approves every foreign investment. It has to go
to the cabinet. Ultimately, it is the decision of the cabinet.
What crime have I committed?," Kumar said, adding "why these
businessmen are here? They have followed the law."
Raja`s counsel said foreign investment was required
for the growth of the economy and if such a situation is being
created for foreigners, who are investing here, then it would
seriously affect the country.



"If you are creating such a situation in India, it is
bound to affect the economy. How can you put these foreigners
in jail for investing (money) here"? he said.



Foreign Direct Investment limit was increased to 74
per cent and hence, offloading of 45 per cent and 60 per cent
shares by Swan Telecom and Unitech to Etisalat and Telenor
respectively did not violate the limit.



Kumar said the whole case was built on the CAG
report of November 8, 2010 which estimated the loss to the
exchequer at 1.76 lakh crore.



Referring to the Comptroller and Audiotor General of
India, he said, "This accountant, howsoever high he may be,
has no knowledge of law."



He also told the court that even the CBI has not
relied upon the CAG report on the presumptive loss due to
spectrum allocation under Raja.



"Where has CBI relied on it? It has also given two
figures of 22,000 crore and 30,000 crore.



"Everybody is mixed up in this case becuase no one has
seen such big figure of 1.76 lakh crore."



PTI



First Published: Tuesday, July 26, 2011 - 21:27

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