Lessons from the failure of some of India's biggest business names.

Why the scam will continue to make headlines

The Special Judge put the blame on the CBI and ED by saying that they failed to prove charges against the accused in the infamous 2G case.

In 2010, then Comptroller and Auditor General (CAG) Vinod Rai in a report had held Raja responsible for causing the state exchequer a loss of Rs 1,76,379 crore by allocating 2G spectrum licenses at throwaway prices.

The agency, which normally takes months to \"study\" court orders before proceeding to file an appeal in higher court, declared within hours of the verdict that \"it has been prima facie examined\".

CAG in a report had held then Telecom Minister A Raja responsible for causing the state exchequer a loss of Rs 1,76,379 crore by allocating 2G spectrum licenses at throwaway prices.

When former Attorney General Mukul Rhotagi revealed to the Supreme Court during the hearing of the Adhaar case in May 2017 that Indian Citizens did not own their bodies, social media had a general nervous breakdown.

In a setback to Essar Group promoter Ravi Ruia facing trial in a case arising out of the 2G scam probe, the Supreme Court on Tuesday rejected his plea to go abroad for business purposes, saying it does not want to take chances.

The Marans had argued that the special court had no jurisdiction to summon them as the deal concerned a \"personal dispute\" and had no relation to the 2G spectrum scam.

The power sector, two-thirds of whose output is from coal, made it to the endangered list when the Supreme Court on Wednesday cancelled 214 of 218 coal block allocations.

Granting 10 days time to the CBI director to file his response to the allegations, the bench refused to pass any order for recusal of Ranjit Sinha in the case.

It is believed that uncertainty over the coal contracts will add to investors' confusion about doing business in India, one of the world's fastest growing economies.

As he ends his decade-long tenure, Manmohan Singh's stock as a middle-class hero stood severely diminished due to a floundering economy and the acts of omission and commission of colleagues in the government and party.

The two companies had pleaded that they be tried in a magisterial court unlike other accused in 2G cases as they have not been charged under Prevention of Corruption (PC) Act.

The Supreme Court came down heavily on the government, saying withholding of spectrum, licences for which were cancelled, was unacceptable.

On February 2, the Supreme Court had cancelled 122 telecom licences given to various operators in 2008 under the then telecom minister A Raja on the grounds that they were issued in a \"totally arbitrary and unconstitutional manner.\"

Five leading thinkers on the economy joined Business Today Editor Chaitanya Kalbag to brainstorm the options facing the finance minister.

Mobile operator S Tel, whose licenses were among the 122 quashed by the Supreme Court earlier this month, on Tuesday said it is helping its subscribers switch to other operators, a possible indication that the firm may be shutting shop.

The Supreme Court's 2G verdict to cancel all the 122 licences issued to nine operators in 2008 is a godsend for some telecom licensees, but for the serious ones and their bankers it is a punch in the stomach.