2G spectrum case verdict: How 2008 changed the rules of the game

The burgeoning debt burden and the consolidation drive in the sector trace their roots to actions taken by the CAG and the Supreme Court

The acquittal on Thursday of key players in the alleged 2G scam after seven years might have come too late to change the fortunes of telecom companies which lost money and reputation, while forcing foreign telcos like Telenor and Sistema out of the country. The key buzzwords facing the industry today — burgeoning debt burden and consolidation — trace their roots back to the 2G spectrum scam of 2008 and the action taken subsequently by the Comptroller and Auditor General (CAG) and Supreme Court. These fundamentally changed the country’s telecom landscape. The advent of Reliance Jio with its aggression accentuated