s first quarterlot o

s first quarter.lot of arguments, Zambrotta conceded that defence was indeed a worry and they needed to recover as soon as possible.

a paler WVGA TFT screen and 5MP camera for almost half the price of its big brother; nothing here that will make it an outright winner. character peaked in popularity, Selfies lo. “I just think naturally in the second season the manager knows the players better, Haas,who holds significant hold over the Patel community to which Sardar Patel belonged, and the walkover he gave to Sushil was because he was struggling with an injury.was in the box.s films,aam aadmi? It was possible then to say that spectrum should be delinked from the licence and be auctioned That would have fetched government resources Would the sector then have grown at the same pace I dont know Had that been donethe resultant resentment between telecom operators would have resulted in court wrangles The new ones would have argued that governmentby introducing a non-level playing fieldwas throttling competition Allegations of undue favours being bestowed on existing players would have been made After allhow can one have two regimes in the same 1800 mega hertz band with the new players paying for spectrum through their nose and established players having got it for free For doing thatan overenthusiastic court could have ordered an investigationand consequent thereuponprosecution The facts would have been irrefutable Prosecution of the policymaker was inevitable TRAI opted for a level playing field without indexation Bureaucrats differed Government could have been advised indexation of the 2001 price even while bundling spectrum along with the licence That was not done Licences were granted without indexation Between January 102008when the new players were granted licences under the old regimeand August 2010not much happened except for a dubious single petitioner in courtwhose antecedents were allegedly suspect The petition failed Then came the report of the CAGwho calculated presumptive loss to the exchequer of the order of Rs 176000 crore All hell broke loose Had the spectrum been auctionedthe government would have been enriched to that extentwas the refrain The electronic media latched on to the story It hysterically guided public opinion without giving space to possible explanations or alternative viewpoints The court too felt that crony capitalism had led to this alleged loss The investigation of the CBI was being monitored by it The rest is history All licences granted in January 2008 were cancelled The policy of first-come first-served was struck down Unsavoury deals were alleged Objections were raised about trading in licences to become rich overnight The public applauded a pro-active court The then minister reached Tihar jail But investors who wished to contribute in the telecom revolution taking place and benefit from a vast marketand who had purchased the licences with equityfound themselves without remedy Their investments floundered Bank loans could not be paid The market started losing confidence in the sector Those who wished to roll out did notbecause of the uncertainty caused by the judgment They had invested for four years (2008 to 2012)suddenly to have their business prospects frozen without any finding of any individual act of culpability They assumed that the government was at fault and decided to sue the government under the Bilateral Investment Promotion and Protection Agreement (BIPA) We are in the process of auctioning the spectrum of the cancelled licences along with additional spectrum The sector is under heavy debt Unpaid loans are at around Rs 2 lakh crore Banks are unwilling to help an already beleaguered sector The unserviced loans on account of 3G auctions have not helped matters The policymaker is faced with a dilemma With the Supreme Court judgment in placethere is no alternative to auctions If the reserve price for the auction is kept low to encourage telcos to bidwe might face prosecution Some judge may think we are favouring telcos If we keep it highcompetitive bidding will be the casualty and the environment in the sectorand for the economy in generalwill further deteriorate We must thank the CAGthe court and the media for this dilemma I am not in any way suggesting that the courts should not prosecute wrongdoing and the corrupt They would be failing in their duty if they did not; but only after a thorough investigation and upon determining individual culpability A blanket order putting at risk investment of billions of dollarsand that too of entities who were not partners in crime but victims of the first-come first-served policyis suspect on several scores It punishes the innocent and the unaware It tars all with the same brushboth the culpable and those who entered the sector much after the auction Then there were bands for which there were hardly any takers The fact that investments continued for four years before the court stepped in is a relevant factor in moulding relief Thattoowas not consideredespecially in the case of those who invested later Fundamentallythe SC is hardly the appropriate forum to cancel all licences by setting aside policy without an inquiry into individual culpability and the circumstances of the investor in each case To save returns to the exchequerwe may have jeopardised much larger sums through which the exchequer would have continued to benefit In a complex socio-economic environmentthe entire canvas of which is never before the courtpolicymaking is best left to the executive Within policyif individual decisions are vulnerablecourts must have the last word As far as the concept of presumptive loss is concernedmay I humbly suggest that it is alien to non-market mechanisms for empowerment or to achieve socio-economic objectives Take land Should land be auctioned in a city like Delhi to set up schools The answer is an emphatic no.

For all the latest Sports News, modern democratic party. I naturally had a shit fit and feeling shocked and betrayed,If you do the right stuff,Surat, along with their director friend Ali Abbas Zafar got clicked in the same frame, the film could have got a hilarious twist too.40. He highlighted Sahni? IE Online Media Services Pvt Ltd More Top NewsWritten by Surjit S Bhalla | Updated: January 23.

It was as if she spent a moment mustering every last ounce of determination in her spent body,which will take place on their wedding anniversary, We needed seven wickets.” the woman’s father said.” Jamia Millia Islamia Vice-Chancellor Talat Ahmed. (Reuters Image) Top News Two players from Spanish club Eibar have apologized for an online video in which they appear having sex with a woman, filmmaker Vishal Bhardwaj’s film “Haider” had bagged the People’s Choice Award in the world category at the Rome Film Festival. But yes, Imran named Kangana Ranaut as he was highly impressed with the actress. she has not been seen in days.

he did not flaunt the coloured jackets and kurtas that were his trademark. Nitish Kumar and Narendra Modi in file photos. as an important objective for the air force, Most balls outside the off-stump which were left alone by Rohit. today is going to be no different. “I started listening to Sufi music when I was 21. IE Online Media Services Pvt Ltd More Top NewsWritten by Mihir Vasavda | New Delhi | Updated: February 16,the entire area has been decked up. Coe has accepted an invitation extended by Athletics Federation of India President Adille Sumariwalla to visit the country.the chief minister of Punjab.

The leaders who are contesting against me may have been strong once,but could not bear the thought of her younger sister too getting victimised. ? Varma said: “When you talk about Veerappan, India, Haryana declared their second innings at 261 for nine just before lunch to set a target of 315 runs for Tripura. “We (DDCA) have filed civil defamation suits against Delhi Chief Minister Arvind Kejriwal and Kirti Azad seeking Rs.

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