India frees top politicians and businessmen charged with corruption and money laundering in one of India's biggest corruption scandals which cost the country $39 billion in revenue.

This file photo, taken on December 8, 2010, shows Indian Central Bureau of Investigation (CBI) officials looking through papers during a search at the residence of former Telecom Minister Andimuthu Raja in New Delhi, India.
This file photo, taken on December 8, 2010, shows Indian Central Bureau of Investigation (CBI) officials looking through papers during a search at the residence of former Telecom Minister Andimuthu Raja in New Delhi, India. (AP)

A special court in India on Thursday acquitted a former telecoms minister, politicians and several business executives of graft and money laundering charges in the grant of telecoms licences in one of the country's biggest graft scandals.

Due to lack of evidence, the court judge pronounced his verdict as "not guilty" for all accused, including former Telecom Minister Andimuthu Raja.

The case relates to alleged below-market-price sale of lucrative telecoms permits bundled with airwaves in 2008, which a federal auditor said may have cost the government as much as $39 billion in lost revenue.

TRT World's Ishan Russell explains the allegations in the case.

Source: TRTWorld and agencies