New Delhi: A 2G case prosecution witness Monday told a Delhi court that Sonata Investment Limited, allegedly involved in transfer of funds between Swan Telecom and Reliance ADA group, was a part of the latter but Anil Ambani was not on its board of directors.
"I am aware of Sonata Investment Ltd. This company is also part of Reliance ADA Group. Sonata Investment Ltd is part of Reliance Energy group. Sonata Investment Ltd is a non-banking finance company.”
"It is engaged in the business of investments and corporate lending," Reliance Power Ltd's Senior Vice President (Project and Finance) and its Chief Financial Officer Deepak Maheshwari told Special CBI Judge O P Saini.
During his cross-examination, he, however, said Reliance ADA Group Chairman Anil Ambani was "not on the board of directors of Sonata Investment Ltd."
Maheshwari said he had done some documentation work in 2007 for a company Anant Raj Group for some facilities provided to it by Sonata Investment Ltd.
He said there was a loan transaction between Oriental Buildtech Ltd, part of Anant Raj Group, and Sonata Investment Ltd to the tune of Rs 100 crore.
"The documentation work done by me for Anant Raj Group was regarding loan transaction. The loan transaction between Oriental Buildtech and Sonata Investment was a transaction of inter-corporate deposit for a project for Rs 100 crore.
"Apart from this transaction, I did documentation work for other transactions also between Anant Raj Group and Sonata Investment Ltd," he said.
First Published: Monday, February 13, 2012, 18:20