Ratan Tata the person who is highly respectable person in the corporate world felt relieved as The Ratan Tata-led Tata Teleservices was today given a clean chit by the Central Bureau of Investigation in the ongoing probe of the 2G spectrum allocation scam.
As soon as the news came it was a big relief for the salt-to-steel conglomerate as it gave immediate boost to the company shares as stocks climbed 10.2 percent rapidly.
The CBI was replying to a petition that Tata Group’s chairman Ratan Tata and his lobbyist Niira Radia be made parties to a telecom case over rigging of grant of telecoms licences in 2007/08, Times Now and NDTV reported.
The Comptroller and Auditor General has estimated that the exchequer lost $39 billion in potential revenue due to irregularities in the grant process.
Stevenson
Management trainee-Fundamental Analyst
Denip consultants Pvt.Ltd
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