In last one decade, 2G scam had become one of the most important topic in our politics and even for many companies. It was reported by CAG that during 2G spectrum auction held before 2010, UPA Government had tried to auction 2G spectrum with a discount of more than Rs 1 lakh crore. But with the decision of special court taken on Thursday, it became clear that there is no solid proof for this.
2G Scam Effected Companies…..
Many companies like Videocon Industries, DB Realty, Unitech suffered huge problems due to this 2G Scam. Unitech Wireless, subsidiary of Unitech saw cancellation of its spectrum licences by Supreme court. However, Videocon Industries is one who had suffered more than Rs 10,000 crore loss due to cancellation of spectrum licences. Board members of the DB realty were recently acquitted from this case.
Many other groups like Essar, Reliance ADAG, Sistema were also effected from this Scam. However, all the members of different Groups have now been acquitted by Court.
Videocon to file a compensation against Government…..
But now the question is who will give compensation against looses suffered by these companies due to 2G Scam. Recent media reports suggested that Videocon Group or Videocon Telecom will soon fill a compensation for looses occurred by cancellation of 2G Spectrum against the Government in Court. Currently, the amount for which Videocon could file the companesation is saying to be around Rs 10,000 crore. Meanwhile, many other companies also have a option to file a same type of compensation against government for their losses.
However, i think filling compensation against government in the court and in return getting their amount would not be easy. It may take months, quarters or even years to get money against their losses. And it is also not clear whether companies would be able to get their amount or not.
So overall, If you want to take any trade or any investment on the basis of the step taken by special court on 2G Scam, you would need to wait for atleast 1-2 years to see some results. You can try to invest in Videocon, Unitech etc.
But although, i think decision taken by special court is very positive for effected companies. In long-term, it will definitely have a good impact on effected companies.
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