In a major development having implications for the corporate sector, the Supreme Court today cancelled the 122 2G spectrum licences granted by former

telecom minister A Raja on the ground that they were issued in a "totally arbitrary and unconstitutional" manner. The 122 licences were given by Raja for over

Rs 9,000 crore, while 3G auctions for a smaller number of licences had fetched the government a sum of Rs 69,000 crores. The apex court left it to the trial

court to decide on the demand for investigation of the alleged role of Chidambaram into the 2G spectrum allocation scam but refused to give direction to CBI

on the issue

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