India Money, Political and General News Correspondent, New Delhi
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Feb 10, 2011

Key ally of India’s ruling party linked to graft scandal

NEW DELHI, Feb 10 (Reuters) – Indian police on Thursday
linked a key ally of the ruling Congress party to a
multi-billion dollar telecoms scam, dealing a fresh blow to a
government already crippled by corruption scandals.

A police lawyer told a court companies linked to a telecoms
firm under investigation for buying mobile licences at unfairly
cheap prices had paid 2.14 billion rupees ($47 million) to a TV
channel run by the Dravida Munnetra Kazhagam (DMK), which helps
the ruling coalition maintain its slim majority in parliament.

Feb 4, 2011

Indian police accuse telecoms firms of unfair advantage

NEW DELHI, Feb 3 (Reuters) – Indian police accused for the
first time on Thursday two Indian companies, partly owned by
Norway’s Telenor (TEL.OL: Quote, Profile, Research, Stock Buzz) and the UAE’s Etisalat (ETEL.AD: Quote, Profile, Research, Stock Buzz), of
buying mobile licences at unfairly cheap prices in a graft
scandal that has tainted the government and spooked investors.

The scandal is estimated to have cost the government $39
billion in lost revenue and has tarnished the reputation of
Prime Minister Manmohan Singh, who was forced by the Supreme
Court to explain why he took more than a year to look into
allegations of wrongdoing in awarding licences in 2007-2008.

Feb 3, 2011

CBI names Unitech, Swan in telecoms scam probe

NEW DELHI (Reuters) – The Central Bureau of Investigation (CBI) accused for the first time on Thursday two Indian companies, now partly owned by Norway’s Telenor and the UAE’s Etisalat, of buying mobile licences at unfairly cheap prices in a graft scandal that has tainted the government and spooked investors.

The telecoms scandal is estimated to have cost the government almost $40 billion in lost revenue and tarnished the reputation of Prime Minister Manmohan Singh, who was forced by the Supreme Court to explain why he took more than a year to look into allegations of wrongdoing in awarding of licences in 2007-2008.

Feb 3, 2011

CBI names first companies in corruption probe

NEW DELHI (Reuters) – Police accused for the first time on Thursday two Indian companies, now partly owned by Norway’s Telenor and the UAE’s Etisalat, of buying mobile licences at unfairly cheap prices in a graft scandal that has tainted the government and spooked investors.

The telecoms scandal is estimated to have cost the government almost $40 billion in lost revenue and tarnished the reputation of Prime Minister Manmohan Singh, who was forced by the Supreme Court to explain why he took more than a year to look into allegations of wrongdoing in awarding of licences in 2007-2008.

Feb 3, 2011

CBI names companies in telecoms scam

NEW DELHI (Reuters) – Two Indian companies, in which Norway’s Telenor and the UAE’s Etisalat now hold large stakes, were given preferential treatment in awarding mobile licences, the Central Bureau of Investigation (CBI) said, in a sign a corruption scandal could spread to the business world.

A CBI lawyer named Indian companies Swan and Unitech as receiving favourable treatment over awarding of licences in 2008 in the world’s fastest growing mobile phone market.

Feb 3, 2011

Police names Swan and Unitech in telecoms scam

NEW DELHI (Reuters) – Two Indian companies, in which Norway’s Telenor and the UAE’s Etisalat now hold large stakes, were given preferential treatment in awarding mobile licences, federal police said, in a sign a corruption scandal could spread to the business world.

A police lawyer named Swan and Unitech as receiving favourable treatment over awarding of licences in 2008 in the world’s fastest growing mobile phone market.

Feb 3, 2011

CBI names Swan, Unitech in telecoms scam

NEW DELHI (Reuters) – Two Indian companies, in which Norway’s Telenor and the UAE’s Etisalat now hold large stakes, were given preferential treatment in awarding mobile licences, the CBI said, in a sign a corruption scandal could spread to the business world.

A police lawyer named Indian companies Swan and Unitech as receiving favourable treatment over awarding of licences in 2008 in the world’s fastest growing mobile phone market.

Feb 3, 2011

India police names companies in telecoms scam

NEW DELHI, Feb 3 (Reuters) – Two Indian companies, in which
Norway’s Telenor and the UAE’s Etisalat now hold large stakes,
were given preferential treatment in awarding mobile licences,
federal police said, in a sign a corruption scandal could
spread to the business world.

A police lawyer named Indian companies Swan and Unitech
(UNTE.BO: Quote, Profile, Research, Stock Buzz) as receiving favourable treatment over awarding of
licences in 2008 in the world’s fastest growing mobile phone
market.

Feb 1, 2011

Key political risks to watch in India

NEW DELHI (Reuters) – India’s coalition government faces criticism over high inflation, and an opposition campaign against corruption could stall the February parliament session which will debate the federal budget and other economic reforms.

Food and fuel prices are eroding support for the ruling Congress party ahead of state elections the party must win, or risk the coalition unravelling.

Jan 27, 2011

ICVL will not counter Rio’s bid for Riversdale

NEW DELHI/MUMBAI (Reuters) – ICVL consortium has decided not to counter Rio Tinto’s $3.9 billion bid for Australian miner Riversdale, likely ending the possibility of a bidding war for the Africa-focused coal firm.

Anglo-Australian miner Rio Tinto’s offer to buy Riversdale gathered steam this week after Riversdale’s board unanimously recommended the bid.