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The 2G spectrum scam involved government officials in India illegally undercharging mobile telephony companies for frequency allocation licenses, which they would then use to create 2G subscriptions for cell phones. The shortfall between the money collected and the money which the law mandated to be collected is estimated to be INR176,645 crore (US$31.97 billion), as valued by the Comptroller and Auditor General of India based on 3G and BWA spectrum auction prices in 2010. However, the exact loss is disputed. In a chargesheet filed on 2 April 2011 by the investigating agency, Central Bureau of Investigation (CBI), the loss was pegged at INR30,984.55 crore (US$5.61 billion) Kapil Sibal, the Minister of communications & IT, claimed in 2011, during a press conference, that "zero loss" was caused by distributing 2G licenses on a dubious first-come-first-served basis instead of by transparent auction process.