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2G spectrum scam case trial: Delhi court to decide A Raja, Kanimozhi’s fate on Dec 21

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A-Raja

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CAG report in 2010 had estimated that 2G spectrum allocation during A Raja’s term as Union telecom minister had cost the exchequer Rs 1.76 lakh crore

A special CBI court in Delhi will, on December 21, decide the fate of former Union telecom minister A Raja, DMK chief M Karunanidhi’s daughter and Rajya Sabha MP Kanimozhi and a host of other high-profile accused, in three cases related to the 2G spectrum scam case.

The case pertains to the alleged irregularities in the allocation of 2G spectrum and licenses to telecom companies during the UPA-I regime of then Prime Minister Dr Manmohan Singh when DMK leader A Raja was the Union telecom minister.

Raja had been forced to resign from the Manmohan Singh cabinet in November 2010 after a report by the Comptroller and Auditor General (CAG) claimed that the “arbitrary” allocation of 2G spectrum and licenses by Raja in 2007-2008 had led to a loss of Rs 1.76 lakh crore to the exchequer.

Subsequent investigations into the scam by agencies like the CBI and the Enforcement Directorate had pointed to wide-ranging irregularities by Raja, DMK leaders Kanimozhi and Dayanidhi Maran and a host of head honchos of telecom companies not only in the spectrum allocation process but also in subsequent sale of the finite spectrum and licenses by some telecom companies to others, who reportedly paid a much higher price for buying the spectrum than what the original allottees had paid to the Centre.

Special CBI judge OP Saini had begun hearing three cases related to the 2G spectrum scam in April 2011. Last month, special CBI judge Saini had, at his Patiala House courtroom, postponed the date for fixing a date for the pronouncement of judgment for December 5. Two out of the three cases being adjudicated at the special CBI court have been filed by the Central Bureau of Investigation (CBI) while the third has been filed by the Enforcement Directorate (ED).

On Tuesday, in a brief order, judge Saini said: “I have perused the files and will pronounce judgement on December 21 at 10.30 a.m.” The court has also directed all accused in the case as well as the counsel for the CBI and the Enforcement Directorate to be present in the courtroom on judgement day and said that the entry into the courtroom that day will be based on a first-cum-first serve basis in the following order – accused, prosecution and the media.

Raja, who was present at the Patiala House Court premises on Tuesday said that he had “faith in the judiciary” but declined to comment on his expectations from the verdict.

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According to the CBI, which has filed two of the three cases on which judge Saini will pronounce his verdict on December 21, Raja was biased in allocating 2G spectrum waves and operating licences to telecom firms. The CBI chargesheet in the case against Raja and Kanimozhi alleges that Rs. 200 crore were transferred from DB Group to the DMK-controlled Kalaignar TV as kickbacks in lieu of allocation of 2G spectrum to Swan Telecom Pvt Ltd.

The Enforcement Directorate has filed a separate case related to money laundering, alleging that a conspiracy was hatched by Raja, Kanimozhi, DMK patriarch M. Karunanidhi’s wife Dayalu Ammal and others and that Rs. 200 crore was proceeds of the crime.

On December 21, the court will also deliver its judgement in the 2G scam case against Essar and Loop telecom companies. The CBI has alleged that promoters of the Essar Group were the real investors and beneficiaries of the spectrum. Licences were issued to Loop Telecom, a front company of Essar to acquire these along with the 2G spectrum in 2008, the ED has claimed.

Politically, a guilt verdict against Raja and Kanimozhi could give a huge boost to the BJP in cornering the Congress party during the upcoming winter session of Parliament and denting the Opposition’s planned offensive against Prime Minister Narendra Modi and the ruling NDA regime. The BJP had been at the vanguard of protests against the then UPA regime when the 2G spectrum scam broke and had alleged that the irregularities were the result of then Prime Minister Dr Manmohan Singh’s inability to rein in Raja – a member of the DMK which was a key ally in the UPA coalition. The BJP had also sought to paint Manmohan Singh and the Congress as equally responsible for the scam as Raja, asserting that they were “guilty by association” with the DMK’s tainted leader.

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India News

Deve Gowda hits back at Kharge’s married PM jibe, calls congress tie-up abusive relationship

HD Deve Gowda rebuts Mallikarjun Kharge’s remarks, saying JD(S) did not desert Congress and was forced to exit an “abusive” alliance.

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Former Prime Minister H. D. Deve Gowda has responded sharply to remarks made by Congress president Mallikarjun Kharge in the Rajya Sabha, rejecting the suggestion that he chose to align with Prime Minister Narendra Modi over the Congress.

War of words in rajya sabha

During his farewell speech in the Upper House, Kharge made a light-hearted remark about Deve Gowda’s political journey, saying he had “dated” the Congress but ultimately “married” Modi. The comment drew laughter across the House, including from the Prime Minister, who was present at the time.

Kharge also noted his long association with Deve Gowda, saying he had known him for over five decades but was unsure why the Janata Dal (Secular) leader shifted alliances.

Deve gowda’s ‘forced marriage’ reply

In a statement issued later, Deve Gowda said he was not present in the House when the comment was made as he had left for Bengaluru for Ugadi celebrations. Responding in similar metaphorical language, he said his association with the Congress was a “forced marriage” that eventually turned into an “abusive relationship.”

He asserted that his party did not leave the Congress alliance, but was instead compelled to move on after being sidelined.

Reference to 2018 karnataka alliance

Deve Gowda also revisited the 2018 Karnataka political developments, stating that the Congress leadership, including Ghulam Nabi Azad, had proposed his son H. D. Kumaraswamy as Chief Minister. He claimed he had instead suggested Kharge’s name, in the presence of leaders like Siddaramaiah.

Despite this, Kumaraswamy eventually took charge as Chief Minister after the Congress-JD(S) alliance formed the government.

Alliance collapse and aftermath

The coalition government collapsed in 2019 after multiple MLAs from both parties defected, leading to the fall of the government. Deve Gowda alleged that the Congress failed to act against those responsible for triggering the defections.

He maintained that the breakdown of the alliance left JD(S) with no option but to seek a “more stable” political partnership later.

Political context

Deve Gowda briefly served as Prime Minister following the 1996 Lok Sabha elections, heading a United Front government supported by the Congress. His party later allied with the Congress in Karnataka in 2018 before parting ways after the coalition government’s collapse.

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India News

Markets tumble as oil crosses $110, sensex falls over 1,900 points

Markets opened sharply lower with Sensex plunging over 1,900 points as crude oil crossed $110 and global factors weighed on sentiment.

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Sensex

Indian stock markets opened sharply lower on Thursday, snapping a three-session gaining streak, as rising global crude oil prices and geopolitical tensions weighed heavily on investor sentiment.

Benchmark indices witnessed a gap-down opening, with the Sensex plunging over 1,900 points at the open, while the Nifty dropped more than 450 points. The decline follows reports of Iran targeting key energy infrastructure in the Gulf region, pushing Brent crude oil prices above the $110 per barrel mark.

At around 9:17 AM, the Sensex was trading at 75,235.05, down by 1,469.08 points. Meanwhile, the Nifty stood at 23,291.85, slipping 485.95 points.

Oil spike, global cues pressure equities

The surge in crude oil prices is a major concern for Indian markets, as higher oil costs can widen the current account deficit and fuel inflation. This often leads to cautious investor behaviour and triggers selling in equities.

Adding to the negative sentiment, the US Federal Reserve maintained its interest rates at current levels. Stable rates in the US tend to keep bond yields attractive, which can result in foreign institutional investors (FIIs) pulling money out of emerging markets like India.

Early indicators had already pointed to a weak start. GIFT Nifty futures were trading at 23,324, down 453 points, signalling a negative opening for domestic indices.

Expert view signals sectoral shift

According to InvestorAi’s strategic outlook, there has been a noticeable shift in market positioning towards IT large-cap stocks. The move reflects a preference for companies with stable earnings visibility, especially those earning in dollars amid a weakening rupee.

The analysis highlights that IT exporters benefit from currency depreciation, as revenues are largely dollar-denominated while costs remain in rupees. However, the outlook remains sensitive to crude prices. A sustained rise above $110 could force policy tightening and impact valuations.

Key stocks in focus

Among the top conviction picks highlighted:

  • Mphasis seen as a strong mid-cap IT play with AI and cloud exposure
  • Wipro emerging as a turnaround candidate with improving margins
  • TCS acting as a sector bellwether reflecting broader IT trends
  • PB Fintech offering a high-margin digital growth story
  • KEI Industries representing domestic infrastructure and electrification demand

What investors should watch

Market participants are closely tracking the rupee’s movement against the US dollar. A sustained breach beyond 90.5–91 levels could further support IT stocks but may also signal broader macroeconomic stress.

Additionally, crude oil prices and geopolitical developments will remain key triggers for market direction in the near term.

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India News

Delhi-NCR sees second spell of rain and thunderstorms in four days

Delhi-NCR experienced another spell of rain and thunderstorms on March 18, with IMD forecasting more showers over the next few days.

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Delhi and parts of the National Capital Region witnessed another spell of rain, thunderstorms, and strong winds on Wednesday evening, marking the second such weather event in the past four days.

The sudden change brought relief from unusually high temperatures recorded earlier this month. According to officials, the temperature at Safdarjung — the city’s base weather station — was recorded at 24 degrees Celsius at 7 pm.

The India Meteorological Department had earlier issued an alert predicting light to moderate rainfall accompanied by thunderstorms and lightning on March 18. Several areas across the capital experienced gusty winds along with brief but intense showers.

More rain likely over next two days

The weather department has forecast partly cloudy skies for March 19 and 20, with chances of light rain or thundershowers occurring once or twice during the day. On March 21, skies are expected to remain cloudy with the possibility of light showers continuing.

Conditions are likely to stabilise from March 23 onwards, with forecasts indicating a return to partly cloudy to clear skies across the region.

Weather activity across India to intensify

The IMD has also indicated widespread weather activity across multiple regions of the country in the coming days. Rainfall is expected to intensify in several states, accompanied by thunderstorms, lightning, and gusty winds.

In the northeastern region, heavy rainfall is likely over Arunachal Pradesh, Assam, and Meghalaya during the early part of the week.

Meanwhile, the western Himalayan region is also set to witness a shift in weather patterns. Himachal Pradesh is likely to receive heavy rainfall on March 19 and 20, while Uttarakhand and Jammu and Kashmir may experience heavy showers around March 20.

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