The accused individuals in the 2G case have asked a Delhi court to release them, citing an opinion from the Ministry of Law and Justice, which strengthened their stance.
Prior to this, the Ministry of Law and Justice had said that a company can be an associate of another only if it is a subsidiary, and that two firms can be associates of each other if a parent company owns more than 50 per cent stake in both.
Thereafter, S. Ganesh, Reliance Telecom’s (an accused in the 2G case) legal counsel, told the Central Bureau of Investigation?s (CBI) Special Court that the company held 9.9 per cent shares in Swan Telecom. However, it did not hold any shares when it obtained a licence, which implies that it was not an associate.
Ganesh commented, “The opinion of the Ministry says that the date on which a company applied for the licence is irrelevant and the only thing which matters is the date when the actual licence was granted.?
