Mark Magnier – February 2, 2012
In a move that could leave tens of millions of India's cellphone-loving consumers with a busy signal, even as it delivers a political setback to the country’s scandal-racked government, the Supreme Court ruled Thursday that 122 mobile phone licenses issued to companies after 2008 are invalid and must be canceled.
The judgment hits at the heart of a corruption scandal of breathtaking proportions, even by recent Indian standards. By some accounts, alleged sweetheart deals involving the distribution of valuable second-generation telecommunications spectrum in 2008, handed out at 2001 prices, cost India’s treasury over $39 billion. That's more than twice the country's combined education and health budgets for 2011.