This past Saturday, India’s Central Bureau of Investigation unveiled corruption charges against Andimuthu Raja, India’s former minister for communications and information technology, and several others. Raja allegedly rigged the allocation process for mobile telecommunications bandwidth to favor certain companies, possibly costing the government a whopping $40 billion in lost license fees. The ex-minister has not yet responded to the charges, but had previously said he is innocent.
The scandal is by far the largest but not the only instance of corporate misconduct to have hit India in recent months. And lawyers in the market say they are beginning to see an impact on investor confidence.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]