Sucheta Dalal :CAG questions Axis Bank\'s role in 4G deal
Sucheta Dalal

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CAG questions Axis Bank\'s role in 4G deal  

July 29, 2014

CAG has questioned how Axis Bank gave a guarantee of Rs252.50 crore to Infotel Broadband, which had a net-worth of Rs2.5 crore, without any margin money. Will RBI show some interest now?

 

Moneylife Digital Team

 

The Comptroller & Auditor General (CAG) has recommended cancellation of the 4G licence and spectrum allocation, alleging wrongdoing in fixing the eligibility criteria in the bidding process.

 

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-- Sucheta Dalal