2G scam: Unitech Wireless was ineligible, Chandra put on trial
Unitech Wireless (Tamil Nadu) Pvt Ltd was ineligible for 2G licences and by offloading shares immediately after getting licences it bagged huge wrongful profits, a Delhi court said.
By PTI | Updated:
NEW DELHI: Unitech Wireless (Tamil Nadu) Pvt Ltd was ineligible for 2G licences and by offloading shares immediately after getting licences it bagged huge wrongful profits, a Delhi court said while putting on trial the company and its Managing Director Sanjay Chandra.
Special Judge O P Saini paved the way for the trial of Chandra saying there was prima facie evidence that he had conspired to get the licence despite the fact that the company was allegedly ineligible for the same.
"Their (Unitech Wireless, representing eight Unitech group companies later merged into it), object clause did not contain telecom business as one of the objects as on the date of application and it is alleged that their object clause did not stand amended as in the eyes of the law," the judge said.
It said both Swan Telecom and Unitech Wireless "obtained pecuniary advantage as they were able to off load their shares for huge consideration to their foreign partners, that is, both obtained pecuniary advantage to the tune of Rs 7,105 crore without anything to their credit except the UAS (Unified Access Service) licences under the relevant date."
The accused companies, defending themselves, had argued the eligibility of the companies had to be considered as on the date of grant of licence and not on their date of application.
The judge, however, said that "in my view of the matter, I find that the eligibility of an company is to be seen on the date of the application as well as on the date of licence".
Special Judge O P Saini paved the way for the trial of Chandra saying there was prima facie evidence that he had conspired to get the licence despite the fact that the company was allegedly ineligible for the same.
"Their (Unitech Wireless, representing eight Unitech group companies later merged into it), object clause did not contain telecom business as one of the objects as on the date of application and it is alleged that their object clause did not stand amended as in the eyes of the law," the judge said.
It said both Swan Telecom and Unitech Wireless "obtained pecuniary advantage as they were able to off load their shares for huge consideration to their foreign partners, that is, both obtained pecuniary advantage to the tune of Rs 7,105 crore without anything to their credit except the UAS (Unified Access Service) licences under the relevant date."
The accused companies, defending themselves, had argued the eligibility of the companies had to be considered as on the date of grant of licence and not on their date of application.
The judge, however, said that "in my view of the matter, I find that the eligibility of an company is to be seen on the date of the application as well as on the date of licence".
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