The Central Bureau of Investigation (CBI) has informed the Supreme Court that it is investigating the alleged involvement of Anil Ambani, chairman, Reliance Communications (RCOM) in the 2G spectrum case.
The agency has told the court that it plans to investigate the issue closely, in order to find the real beneficiaries in the 2G case.
The CBI has presented fresh documents in the court, stating that along with RCOM?s three accused officials, Anil Ambani’s role in the stake sale of Swan to Delphi and then Etisalat is being investigated. The investigating agency has established that the stake sale was made at grossly undervalued prices.
CBI’s investigation is expected to prove whether Swan was RCOM?s front company or not. Letters have been sent to Switzerland and Mauritius to uncover more details of the stake sale to Delphi. The next charge sheet is due in the next three weeks.
Reliance Telecom Limited (RTL), an accused in 2G spectrum allocation case had told a Delhi court that a Ministry of Law and Justice?s report exonerates it as its stake in alleged beneficiary Swan Telecom was below 10 per cent.
The counsel for RTL sought discharge from the case, on grounds that RTL held 9.9 per cent shares in Swan Telecom. However, when Swan obtained a licence, RTL had no stake in it and hence both companies, as per the Ministry of Law and Justice?s report, cannot be termed as an associate of each other.
The Ministry of Law?s report states that an existing licensee telecom firm should have more than 10 per cent stake in another firm at the time of grant of unified access services licenses (UASL) to the latter for being termed as associate.
