Full Coverage: What is the force behind RBI Governor Raghuram Rajan’s first monetary policy?

19 Sep 2013 / 0 Comments

3.45 am Just woke up after long work till 12 am. "The office is so messy as like Indian economy. Fortunate Subbarao who left this mess created by few stupid political economists," Raghuram Rajan found telling the sweeper who came to clean up the

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Published On:Tuesday, 23 August 2011
Posted by Diggy Chacha

SibalNama Series Episode - 10: Raja searching for shelter as Kani aunty said Chiddu, Manji and Raja were involved




Finally, a major shocker came in the SibalNama, DMK seems to put its support from handsome and Tamil hero look-a-like A. Raja as his close associate and DMK supremo Karunanidhi's (black goggles fame "inna venkatesaa") daughter Kanimozhi (Kani aunty) that the prime minister Manuji and the then finance minister P. Chidambaram (Chiddu uncle) were fully aware of the 2G license allocations and had decided with the now jailed telecom minister A. Raja not to auction these. She said that she had nothing to do with entire saga. She was as innocent as Suresh Kalmadi is.













Her lawyer, Mr. Sushil Kumar said that Kani is thankful to Diggy Chacha who was first to acclaim that she was innocent and ask Press media to press for her bail to Court.





She reiterated the historic "Zero Loss theory" theory of Kapil Sibal (Sibal uncle). Kani aunty's counsel said "The (three) are good enough as witnesses to prove that there was no loss. They are on record in parliament that the government did not incur any loss." However, he made a no-comments on whether Court had taken Sibal uncle's theory as scientific or opportunist.











Pleading that the case against Kanimozhi be discharged, the defending counsel said: "The CBI case is based on the premise that the accused caused huge loss to the state exchequer by not auctioning licences for the 2G spectrum. The moment the loss factor goes out, how can the investigative agency impose charges of cheating on my client?"











Sushil Kumar also trashed the computation of the loss by the CBI and the Comptroller and Auditor General (CAG), claiming these to be "just notional losses", something that could not be the basis for prosecution. However, he kept mum that why that notional loss was there, was the government announced subsidy/charity program for telecom companies to gave licenses at such great prices.





"The CAG report (putting the losses at Rs 1.76 lakh crore to the state exchequer) was laid before the Lok Sabha Nov 16, 2010," Sushil Kumar argued. "It had not been adopted by the house. It is still in limbo as the house is yet to adopt the report." In the absence of parliamentary acceptance, the report lacked evidence value, he said.

According to sources, Chiddu uncle immediately called Sibal uncle expressing his concerns after Kani aunty's charges. However, Sibal uncle kept him quiet and told him focus on home ministry and Anna Hazare rather than worrying on small small scam related things.




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