Anil Thakraney: Time for clean up the 2G scam

03 Feb,2012

By Anil Thakraney

 

The Supreme Court’s judgment on the 2G spectrum scandal is horrendous news for the telecom industry, the entire corporate world and the end consumer. The court has cancelled the 122 spectrum licenses issued in 2008 by the great A Raja, the then telecom minister. Fresh auctions will be held later in the year, and new allotments made.

 

This means the cost of the licenses will shoot up, and the additional expenses will be passed on to the subscribers. What impact this will have on the telecom boom, you can easily imagine. Not just that. This judgment finally confirms the massive corruption involved in the 2G scam, and this is going to damage the overall business sentiment in the country. Foreign investors are going to think many, many times before parking their funds in this maha corrupt nation. Where, first you are expected to bribe to get licenses, and then one day you could be back to square one, your business model sent for a toss. Basically, it’s a lose-all situation.

 

However, one hopes this huge scandal and its fall-out will serve as a starting point for a massive clean-up operation. Quite obviously, blatant corrupt practices such as these cannot be allowed to go on. If a huge shake up doesn’t take place this time, we will see this happen again and again. To begin with, Shri Chidambaram, who was the finance minister when Raja tore into the cookie jar, must accept moral responsibility and quit. And if he doesn’t, the mantri ought to be immediately sacked. Even if he was in the dark on the then telecom minister’s nefarious activities, he must be held accountable. Because at the very least, Chidu fiddled while Rome burnt. This is important. It’s not enough that Raja is in jail, the big heads must roll.

 

And secondly, corporates in the telecom sector must take equal blame for this mess. Because if they had refused to bribe Raja, this scale of corruption wouldn’t have happened. The scam should be a lesson for all suits that they must play an equal part if the nation has to be rid of graft. In any shady deal, at least two shady partners have to be involved.

 

[youtube width=”400″ height=”200″]http://www.youtube.com/watch?v=lw9ZeXB2uKs[/youtube]

So even as the telecom industry gets busy and studies the exact impact of the SC’s judgment, it’s time for all corporates to wake up and smell the coffee. And swear to run a clean ship from now on. If the businessmen aren’t going to learn anything from the nation’s biggest, mind-numbing financial scam, they never will.

 

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PS: TV serials based on vampires have been a rage in the US in recent times. Audi has capitalized on their popularity, and has released a hilarious commercial. Damn cool!

 

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