Anil Ambani’s RCom gets more entagled in 2G probe net
16 Apr 2011
As the Central Bureau of Investigation continues to selectively leak the proceedings of its inquiry into the 2G scam, it looks like the country's apex investigator is coming closer to nailing Anil Ambani's Reliance Communications.
From recent reports, it is becoming clearer that Swan Telecom, headed by Shahid Balwa (now in custody) was a proxy for Reliance ADAG. This has been corroborated by the disclosure made by a former HDFC Bank official that Reliance Communications had said as much in a communication to the bank.
"Anand Subramaniam and Varadarajan Srinivasan on behalf of M/s Reliance Communications Ltd gave a letter dated 1 March 2007 in the bank declaring that STPL was a group company of Reliance ADAG," Uday Sahasrabuddhe, then an official with HDFC Bank, told the CBI. The statement of Sahasrabuddhe, the 98th prosecution witness, has been corroborated by Srinivasan, also a CBI witness, who sent the letter on behalf of Reliance Communications.
Sahasrabuddhe stressed that Srinivasan and Subramaniam were also the authorised signatories of the bank account of Reliance ADAG.
Gautam Doshi, top official of Reliance ADAG, has been indicted by CBI as the "brain" behind the plan. "It was his brainchild to use STPL as a front company by Reliance ADA group for applying for UAS licences disguising the actual ownership and control," CBI said in a report submitted before the court.
Meanwhile Delhi-based realtor Amit Sarin, has told the CBI that his company, Anantraj Builders, was used to rout Rs100 crore of Reliance ADAG to Swan Telecom to make it eligible to apply for 2G spectrum licence.
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