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2G scam: CBI institutes inquiry against Tata over alleged illegal bidding

CNN-IBN
Aug 12, 2014 at 05:58pm IST

New Delhi: In a recent development in 2G scam, the has instituted an inquiry against for alleged illegal bidding by -Unitech in the licence auctions. The Supreme Court of India had asked for CBI records of 2G Swan Telecom probe which is allegedly a front for Anil Ambani owned Reliance Telecom.

The CBI Director had asked for stay on trial against Reliance Telecom and Swan Telecom, one of the alleged beneficiaries of the 2G allotment by former telecom minister A Raja.

Earlier, the Corporate Affairs Ministry under the previous UPA government had given a clean chit to Swan Telecom.

2G scam: CBI institutes inquiry against Tata over alleged illegal bidding

The CBI has instituted an inquiry against Tata for alleged illegal bidding by Tata-Unitech in the licence auctions.

As a result, just two weeks after the then Telecom Minister0 Kapil Sibal dismissed the Comptroller Auditor General’s Rs 1.76 lakh crore loss figures, another violation pointed out by the CAG has fallen through.

CNN-IBN had got access to a report from the Corporate Affairs ministry, which had given a clean chit to Swan telecom, the company that was the first in the queue of successful applicants to be awarded a 2G license in January 2008.

The CAG report had said Swan Telecom, while applying for licenses in 13 service areas, was acting as a front company on behalf of Reliance Telecom.

As per the DoT eligibility rules for telecom licenses, no telecom services firm can hold more than 10 per cent equity in another telecom service firm in the same service area.

According to corporate affairs ministry sources, there had been no clean chit given to Swan, but the file notings show otherwise.

The clean chit had been given despite serious allegations of irregularities made against the company by the CAG’s report, giving more ammunition in the hands of the Center to disagree with the CAG’s findings.

Read mor where – http://ibnlive.in.com/news/2g-scam-cbi-institutes-inquiry-against-tata-over-alleged-illegal-bidding/491743-7.html

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