The CBI on Thursday strongly defended P. Chidambaram in the Supreme Court, saying he could not be accused of not having done anything to prevent the 2G spectrum allocation scam or cancel licences during his tenure as Union Finance Minister. Cancellation of licences, being a major policy, could have been done only by the government and not by Mr. Chidambaram alone.
Senior counsel, K.K. Venugopal, appearing for the CBI told a Bench of Justices G.S. Singhvi and A.K. Ganguly that it is easy to attack the then Finance Minister P. Chidambaram as it will get them headlines and it is politically fruitful for them. Attacking the then Finance Secretary D. Subbarao will not get them headlines.
Counsel said that the consistent stand of the Finance Ministry and Mr. Chidambaram on entry fee, licences and spectrum was that they should be auctioned. But the then Telecom Minister, A. Raja, postponed a Full Telecom Commission meeting, scheduled for January 9, 2008, where the issue of auction was to have been discussed, to January 15, 2008.
Mr. Venugopal said Mr. Raja jumped the gun and issued Letters of Intent to telecom companies on January 10, 2008. The then Finance Minister could not have cancelled the licences by himself as it had to be a major policy decision by the government.
Mr. Venugopal said the CBI was an independent agency and was conducting investigating the investigation in one of the most high profile cases in the history of India. As a result of independent investigations, a Minister (Raja), a member of a coalition partner in the government, and Ms. Kanimozhi, a daughter of Dravida Munnetra Kazhagam president M. Karunanidhi, were arrested and the role of one or more former Minister, Dayanidhi Maran was being probed.
The CBI officers were doing their duty day and night and investigation of this magnitude could have normally taken at least a year and a half to be completed. The Ministries of Law and Corporate Affairs and the Telecom Regulatory Authority of India (TRAI) had given unsolicited opinions, but the CBI was not accepted by them. Counsel said that they have not accepted the report of the TRAI on zero loss. Counsel produced the 500-page document prepared by the then Finance Secretary D. Subbarao, now RBI Governor and a decision to issue licences was taken by Mr. Raja.
Justice Singhvi drew counsel's attention to some missing papers and asked him get them included on Friday.
Arguments will continue on October 10.
News reported by AR for Newsvision online newspaper
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