Following are the highlights of the Supreme Court judgement today cancelling 122 2G licences:
1: Grant of licences were wholly arbitrary, capricious, illegal, unconstitutional and contrary to the public interest, violative of doctrine of equality.
2: Government should have adopted the policy of auction instead of first-come-first served basis, which is flawed.
3: TRAI adopted lopsided approach in recommending grant of 2G spectrum at 2001 prices.
4: Rejects government stand that the policy matters cannot come under judicial review.
5: A. Raja ignored advice of Law Minister and the PM.
6: Costs of Rs five crore each imposed on three companies Etisalat DB Telecom Pvt Ltd (Swan Telecom Ltd), Unitech Wireless Group and Tata Teleservices Ltd.
7: Costs of Rs 50 lakh each slapped on Loop Telecom Pvt Ltd, S-Tel, Allianz Infratech and Sistema Shyam Tele Services Ltd.
8: Fifty per cent of the costs would be deposited with the Supreme Court Legal Services Committee and rest with the Prime Minister's Relief Fund.
9: Auctioning 2G spectrum could have enriched the nation.
10: The process of grant of LoIs was stage managed as firms which applied prior were pushed down in the priority list.
11: The cancellation would become operative after 4 months.
12: TRAI would make fresh recommendations on auctioning the 2G licences.
13: SC asks probe agencies and special CBI judge to remain unaffected of its verdict.
14: It refuses to cancel licences other than those granted by Raja in 2008.
15: It suggests government to follow the auction of natural resources to avoid arbitrariness & illegality.