Cancellation of 2G licenses by the supreme court clearly brought out the big scam and it was a "collective failure" of the government which "overlooked" warnings given by the CAG and the CVC on the issue, Janata Party chief Subramanian Swamy said on Thursday.

"Everyone had warned including the CAG and the CVC but the government overlooked it," Swamy said soon after the Supreme Court cancelled the 122 spectrum licences and left it to the trial court to decide on whether to probe P Chidambaram.

Swamy said "it is a collective failure" of the government that 2G licences were issued in an "illegal and corrupt" manner and nobody felt that the Cabinet should be called and the licences scrapped.

On prosecution of Chidambaram, he said, "I am very happy that the court has said since the matter is in the trial court and the matter has been reserved, the trial court perfectly competent to decide on the matter whether the Home Minister should be proceeded against or not."

"It is being made clear that the trial court is fully seized of the matter. Now the CBI could not add anything by way of an investigation.

"It is the best posssible judgement that could be possible for the three judges. The country can be justifiably proud of Supreme Court," he told reporters.