Indian investigators reportedly raided the offices of mobile operators Vodafone India and Bharti Airtel at the weekend.
The search is part of an investigation into the grant of additional 2G spectrum in 2001-2007.
On its website, the Central Bureau…
Indian investigators reportedly raided the offices of mobile operators Vodafone India and Bharti Airtel at the weekend.
The search is part of an investigation into the grant of additional 2G spectrum in 2001-2007.
On its website, the Central Bureau of Investigation (CBI) confirmed that a raid took place but did not disclose the names of the three mobile network operators that were searched.
The CBI also registered a case against two telecom officials. It explains, on its website, that the alleged allocation of underpriced additional spectrum to those three companies caused a loss of Rs5.08bn (US$97.6m).
Vodafone and Bharti were not immediately available for comments before the press deadline but reportedly deny any wrongdoing.
The Financial Times cited a government official saying that the two operators could face retrospective fees of up to US$1bn for the spectrum they now hold.
This investigation is separate from the 2G scam that has been rocking the Indian telecom industry over the last year. This scandal is also related to the alleged allocation of underpriced 2G spectrum but dates back to early 2008 and reportedly cost the government US$39bn in lost revenues.
