A Delhi Court has asked the Central Bureau of Investigation (CBI) to file the Ministry of Law?s report which said that a firm should have more than 10 per cent stake in another for being termed an associate.
Special CBI Judge, O.P. Saini said, “It is ordered that the CBI would place a copy of the report received by it from the Ministry of Law and Justice through the Department of Telecommunications (DoT) on record on September 21, the next date of hearing.?
Reliance Telecom Limited (RTL) and Swan Telecom Private Limited (STPL), an alleged beneficiary of the 2G spectrum issue, have been stating that they were not associate firms, as RTL’s stake in STPL was below 10 per cent, as mandated under the guidelines for the Unified Access Service (UAS) Licenses.
Essar Telecom, which allegedly created Loop Telecom as its front company to get licenses, has put forward the same arguement.
On the other hand, the CBI has alleged that STPL was an associate firm of RTL created to circumvent the then guidelines of DoT which debarred existing CDMA players from entering the GSM segment.
