The UPA government has so far defended his statement with the zero-loss argument in the whole 2G spectrum scam. But the CBI found Subbarao's report which clearly shows the loss from selling 2G spectrum at 2001 prices in 2008 at close to Rs 31,000 crore. The 2G spectrum scam cost the nation a loss of whopping Rs 1.76 lakh crore.
The report submitted by Subbarao, former Finance Secretary, is a legal document now and has been submitted to the Supreme Court along with the CBI charge-sheet.
Subbarao might have to appear before the court to prove his argument over his statement stated in the six-page submission on the loss by the second generation telecom scam.