The one that got away

At least one company is thanking its stars for being unable to secure a 2G telecom licence in 2007-08: real estate firm Parsvnath Developers. The Delhi-based realtor had applied for a pan-India 2G telecom licence in 2007 but failed to get it after then telecom minister A Raja arbitrarily changed the cut-off date for paying the fees, a policy that favoured some companies with prior knowledge of the date change. At the time, senior Parsvnath executives had expressed regret at losing out; now they’re visibly relieved since none of the new licensees is likely to be spared in the current 2G investigations. Asked to react, Parsvnath Chairman Pradeep Jain merely laughed and told reporters that he didn’t want to comment.