The CBI begins to probe the links between RTL and Swan Telecom

The Central Bureau of Investigation (CBI) has begun its probe into the alleged business links between Swan Telecom Limited and Reliance Telecom Limited (RTL), an Anil Dhirubhai Ambani Group (ADAG) company, according to news reports.

Currently, it is believed that the CBI is also verifying contents of a letter written to it in December 2010 by Shahid Usman Balwa, managing director, DB Realty Limited in which he had reportedly admitted of obtaining investments from RTL.

In his letter, Balwa had reportedly admitted that the ADA group helped him apply for a 2G spectrum license. He added that the ADAG had brought preferential shares in his company to give him initial capital.

Meanwhile, the ADAG confirmed that select officials have been examined by the CBI in connection with telecom-related matters dating from 2001 to 2009. In a statement, the company said that the officials have been cooperating with the CBI in the investigations.