2G verdicts: 122 licenses cancelled; Chidambaram verdict with trial court
The Supreme Court this morning cancelled 122 telecom licenses issued by A Raja in 2008, a decision that will trigger powerful changes in the telecom sector, and eventually in how much India pays for cell-phone services. The court said using a first-come-first-serve policy to allocate national resources like airwaves is "fundamentally flawed", dangerous, and designed to benefit any one "with access to power corridors." The licenses have to be reallocated in four months via an auction based on market prices.
